Newsweek likely to become digital magazine

Jul 25, 2012
Barry Diller, Chairman and Senior Executive, IAC is pictured in April 2012. IAC, the company operating the US magazine Newsweek, indicated Wednesday the venerable publication is likely to go digital to stem its losses and could undergo other changes by next year.

The company operating the US magazine Newsweek indicated Wednesday the venerable publication is likely to go digital to stem its losses and could undergo other changes by next year.

Barry Diller, chairman and chief executive at the IAC, said his firm is looking at options now that its partner in the /Daily Beast operation has pulled out.

Diller told a conference call that the Harman family, which had been part of the news operation, had pulled out following the death of magnate Sidney Harman.

He said one of the options is a transition to a digital magazine, but did not offer any specific plans.

"The transition will happen," Diller told a call on IAC earnings. "I'm not saying it will happen totally but the transition to online from hard print will happen."

Diller said a plan for the coming year will be in place by September or October.

"The plan in place for next year will be different than it was this year," he said. "I can't tell you in what ways, but it is going to be different."

The sold Newsweek to California Sidney Harman for one dollar in 2010, ahead of a deal with IAC to merge the magazine with the online operation to become known familiarly as "Newsbeast."

Explore further: Why the Sony hack isn't big news in Japan

add to favorites email to friend print save as pdf

Related Stories

Audio pioneer Sidney Harman dead at 92

Apr 13, 2011

Audio pioneer Sidney Harman, who bought Newsweek magazine last year and merged it with The Daily Beast website, died on Tuesday. He was 92.

Liberty Media gives up stake in Diller's IAC

Dec 02, 2010

(AP) -- Barry Diller and John Malone, two media moguls whose partnerships over the past 17 years have been rocky at times, are cutting more of their business ties as Malone's Liberty Media sheds its voting stake in Diller's ...

Recommended for you

Why the Sony hack isn't big news in Japan

2 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

7 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

8 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

22 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.