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IAC And Daily Beast Editor Tina Brown to Part Ways (BuzzFeed / Business)
Tina Brown, who sought to reinvent buzzy magazine journalism on the Internet in the form of The Daily Beast, and IAC have agreed to part ways. According to a source with direct knowledge of the situation, The Daily Beast parent company IAC, owned by media mogul Barry Diller, does not plan to renew Brown’s contract when it expires in January. The decision has been made for the two sides to part ways, said the source, but precise details of the separation are still being worked out. Brown confirmed her departure in both a meeting with staff and in an email sent to friends and contacts after BuzzFeed broke the news on Wednesday. Politico / Dylan Byers on Media Brown will split with parent-company IAC next year and launch her own company, Tina Brown Live Media, according to sources with knowledge of her plans. The contract negotiations have been going on for the last few months, according to a source familiar with the discussions, and the split has been a “long time coming.” Daily Beast Brown is optimistic about the future of The Daily Beast. “The great thing about change is that you get influxes of new energy and you get different ideas,” she said. “I will be one click away from you every morning,” she told staffers, and added, “I will continue to see you grow.” Capital New York Brown, who was once editor of The New Yorker and Vanity Fair, told Daily Beast staff she will take her successful Women in the World Conference, and its staff, with her, according to a source who was present at the newsroom gathering. Rhona Murphy, The Daily Beast’s CEO, said during the meeting that there are currently no plans to close the site, which is still in the process of extricating itself from Newsweek, and that a budget was being planned through 2014, the source said. Mashable A source claiming to be close to the negotiations emphasized that Brown — not IAC — “ultimately made the decision to walk away from The Daily Beast” and that it’s “more of a mutual separating of ways.” The source added that Brown’s relationship with IAC Chairman Barry Diller is “not strained” and she continues to have “a ton of respect” for him. FishbowlNY Brown’s departure will surely kick “The Daily Beast is dead” rumors into high gear. The site is on pace to lose $12 million this year, so don’t be shocked if IAC decides to sell or completely shut it down.