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Barry Diller Admits Buying Newsweek Was a Mistake

The “Most Honest And Unintentionally Depressing Answer Of The Day” award goes to Barry Diller, IAC’s chairman. In an interview with Bloomberg TV, Diller admits that buying Newsweek was a mistake, and even adds that the all-digital NewsBeast isn’t likely to succeed:

For a news magazine, which is a bit of an odd phrase today, it was not possible to print it any longer. We said we will offer digital products. We have a very solid newsroom. We will see. I do not have great expectations. I wish I had not bought Newsweek. It was a mistake.

Okay! Now, get to work Tina Brown and crew! Or don’t.

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