×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: newsweek | magazine | print | only

Newsweek Magazine To End Print Edition

Wednesday, 25 July 2012 12:26 PM

Newsweek will eventually transition to an online publication, owner IAC/InterActiveCorp (IACI) said today, marking the beginning of the end for the magazine’s 79-year run as a print weekly.

IAC Chairman Barry Diller made the announcement during a quarterly earnings conference call, saying the New York-based company aims to curb investments in the money-losing business. Still, he stopped short of saying it would be a “total” shift to the Internet.

“The transition to online from hard print will take place,” Diller said. “We’re examining all of our options.”

A plan to move Newsweek to an online-only publication will be announced as early as September, Diller said. Newsweek became part of his media holdings in 2011 when it merged with IAC’s Daily Beast Co., an online news startup that Diller started with former Vanity Fair editor Tina Brown. The merger was part of an agreement with the late Sidney Harman, who acquired Newsweek from Washington Post Co. for $1 and the assumption of liabilities.

IAC, which makes most of its revenue from the Match.com and Ask.com websites, reported a 2.1 percent gain in second-quarter net income to $43.3 million. Sales increased 40 percent to $680.6 million.

© Copyright 2022 Bloomberg News. All rights reserved.


194
2012-26-25
Wednesday, 25 July 2012 12:26 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved