The chance to be part of a whole new experiment in online and print journalism, in the Daily Beast and Newsweek adventure, is just too fascinating and exciting a challenge to pass up. And to work with media legends, Barry Diller and Tina Brown, and with the extraordinary businessmen Sidney Harman and Stephen Colvin, is the opportunity of a lifetime. Barry was the person who first introduced me to the Internet in the early 1990s, and we have remained friends ever since. Tina Brown needs no introduction, but to see her in action as we have discussed this new adventure over the past few weeks has been quite a revelation. The Daily Beast, in a mere two years, has made its mark on the web, with 6 million unique visitors last month, and an eight-fold jump in ad revenue over the last year. It will give the Dish a whole new audience and potential for growth and innovation. I’ll also be contributing columns and essays to Newsweek.
This is a huge get for Brown but it’s a tidal wave of a catastrophe for The Atlantic. The magazine posted its first profit in a decade last year, thanks largely to online revenue. It has until April, when Sullivan starts at NewsBeast, to figure out how compensate for the loss of Sullivan’s web traffic.