The likelihood of a Newsweek/Daily Beast merger is “increasing” says the WSJ, for a couple of reasons.
One: Newsweek’s new owner, Sidney Harman, claims he’s not trying to make money, just turn the magazine around.
Two: Having Tina Brown as editor would “would provide an infusion of talent and buzz for a magazine that’s been struggling to exceed 60 pages.”
Three: The Daily Beast is expected to lose $10 million this year. (Ouch!) Newsweek would give the website a global print platform.
Add it all up and you get a tempting conclusion. However, the WSJ adds, “people familiar with Mr. Harman’s thinking said he may be wary of handing the reins to a strong-willed editor who also answers to another boss.” (That’d be Barry Diller.) Should a deal go through, Brown would become the editor of Newsweek on top of her existing duties and would answer to both bosses.
The Daily Beast averages 4.6 million visitors a month.
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