Update: Yup, turns out staffers’ (and our own) speculating proved, unfortunately, correct. Mediaweek is reporting that Newsweek.com will shut down as part of the merger, even thought its audience is bigger than that of The Daily Beast. So The Beast? It got claws, yo:
The Beast is the survivor, said Stephen Colvin, the company’s new CEO, “Because the Daily Beast is a very credible and successful news and opinion Web site. And with great vitality and distinct voice.”
More news is rolling in regarding the mighty mutant that is the newly-spawned Newsweek Daily Beast Company.
The New York Observer, with it’s new Newsweek-vet media reporter, was the first to break news of the final merger (although — gloat! — we broke the story on Tina Brown‘s name being in the race for Newsweek editor in chief) and now has reaction from staffers at both camps. Here’s what they know (or, in some cases, are speculating about) so far: Brown has yet to set a clear editorial vision for new combined publication. We do know for sure, however, that she sees print and online reporting as being inherently different from one another.
As Brown herself mentioned earlier, she’s bringing Daily Beast president Stephen Colvin along for the ride as the company’s new chief executive.
Newsweek.com and The Daily Beast will merge, “almost certainly under The Daily Beast’s banner.” The question, then, is what will happen to Newsweek‘s digital properties — and its staff.. Word is that the magazine’s international editions will continue on and there will most definitely be layoffs as all is streamlined and positions are made redundant. (Our eye, and five bucks, is on digital, for now.)