Tina Brown said something, so FishbowlNY is obligated to make sure everyone in New York knows about it. Brown told “Nightline” that Newsweek/The Daily Beast most certainly did not lose $30 million last year, but offered little to be excited about for the immediate future.
“We are certainly not losing that amount, but we aren’t making money yet and we won’t make money for another couple of years, but we will as long as we can build the brand back up again,” said Brown. Yikes. Brown then added that the brand building process is at about 40 percent. “It seems to me that we have stopped Newsweek from failing and we are now on our way back up,” she explained.
There, that’s slightly more optimistic. Here’s hoping everyone is cool with losing a lot more money until that final 60 percent comes around.