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IAC Seeking Buyers for Newsweek (Variety)
Newsweek appears to be on the block — again. According to sources who have been briefed, IAC is sending out inquiries to prospective buyers who may be interested in purchasing the 80-year-old title, which ended weekly publication of its domestic edition late last year in favor of a digital-only format. A revamped Newsweek.com launched earlier this month. Adweek At this point, Newsweek’s decline and predicted demise are well-trod ground. The once-venerable Newsweek used to have a circulation topping 3 million, but had fallen to less than half of that when it went digital-only this year. The move would save IAC money and enable Newsweek to make good on the copies it owed subscribers (Newsweek carried a $30 million circulation liability), but no one in their right mind expected a paid, digital magazine to be a viable option. Politico / Dylan Byers on Media In April, Diller said he regretted buying the magazine. “‘I wish I hadn’t bought Newsweek, it was a mistake,” he told Bloomberg TV. He also said he did not have “great expectations” for the digital version, which, like The Daily Beast, is edited by Tina Brown.
Posts Tagged ‘U-T San Diego’
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Today marks the end of my 10 years with the Union-Tribune. Thanks to all who have offered their insight, their time and their readership.
— Tim Sullivan (@TimSullivan714) June 2, 2012
Voice of San Diego captured some of the reaction from Sullivan’s peers on Twitter:
“The UT fired its best sports writer,” KPBS reporter Tom Fudge.
“I’m better for having worked beside Tim Sullivan. Craftsman, truth seeker, unfailingly fair. A journalist in the finest sense of the word,” U-T Chargers writer Kevin Acee.
No word as to why Sullivan was let go, but he’s been described as a sharp and balanced reporter. Hopefully he will bounce back with another media outlet sooner than later.