Newsweek likely to become digital magazine

July 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: Newsweek, Daily Beast in old-new media marriage

Related Stories

Audio pioneer Sidney Harman dead at 92

April 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

December 2, 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

World's biggest battery in Australia to trump Musk's

March 16, 2018

British billionaire businessman Sanjeev Gupta will built the world's biggest battery in South Australia, officials said Friday, overtaking US star entrepreneur Elon Musk's project in the same state last year.

1 in 3 Michigan workers tested opened fake 'phishing' email

March 16, 2018

Michigan auditors who conducted a fake "phishing" attack on 5,000 randomly selected state employees said Friday that nearly one-third opened the email, a quarter clicked on the link and almost one-fifth entered their user ...

Origami-inspired self-locking foldable robotic arm

March 15, 2018

A research team of Seoul National University led by Professor Kyu-Jin Cho has developed an origami-inspired robotic arm that is foldable, self-assembling and also highly-rigid. (The researchers include Suk-Jun Kim, Dae-Young ...


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.