All good things, and some mediocre things, must come to an end. BuzzFeed is reporting that IAC — parent of The Daily Beast — won’t be renewing Tina Brown’s contract when it expires at the end of this year:
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. According to this source, Brown… could end up taking the successful Women in the World conference with her as part of a severance agreement.
If this is the end of Brown’s tenure at The Daily Beast, it’ll likely be remembered more for the bad times than the good. Brown was a constant lightening rod for the media, which seized any chance it could get to point out what Brown was doing wrong. Brown didn’t do much to help her case either, as evidenced by all the wacky Newsweek covers she authorized.
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.