Newsweek, Daily Beast Merger the New Face of New Media?

Newsweek, Daily Beast Merger the New Face of New Media?

Newsweek, Daily Beast Merger the New Face of New Media?

Popular culture website The Daily Beast and seminal news magazine Newsweek has announced plans to merge into one venture held equally by Sidney Harman and IAC. Known as The Newsweek Daily Beast Company, the merger will put Dr. Harman in the Executive Chairman position, IAC Chairman Barry Diller in much the same role, and a director from each company. Dr. Harman only recently acquired the Newsweek brand from Washington Post Company, but he plans to push the news magazine format forward by combining print media with fast paced online reporting.

Tina Brown will remain Editor-in-Chief of the Daily Beast, which she helped found, but she will also take on the role for Newsweek magazine. Stephen Colvin will move up from his position of President at the Daily Beast to CEO for the new company. All of the parties involved hope that the combination can bring vitality to Newsweek and a broader audience to The Daily Beast. Writers, marketers and photographers will also benefit from linked exposure on both platforms, reaching the broad regular readership of the magazine and the millions of monthly viewers on the website.

Although The Daily Beast was only launched at the end of 2008, it quickly became one of the most popular news, culture and entertainment websites on the internet. With 5 million unique visitors each month, TIME magazine rated it as one of the top five news websites in the United States this year. Tina Brown has a history of reviving well known but stagnating magazine brands, including Vanity Fair and the New Yorker.

Information on how the two companies will combine their efforts and what exactly will change with either of them is expected to be released over the next few months. With a readership of over 19 million people around the world, Newsweek must take care not to change their format too much or too rapidly or risk alienating readers. At the same time, The Daily Beast must continue to offer the cutting edge commentary and news reports that made them so popular.


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