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Posts Tagged ‘Barry Diller’

Newsweek Sold to IBT Media

IBT Media, publishers of the International Business Times, are your new Newsweek owners. IBT is a digital-only company, so Newsweek will continue as it has since the print edition was folded. Financial terms of the deal were not disclosed.

In 2010, Sidney Harman purchased Newsweek from The Washington Post Company. Harman then entered into a partnership with Barry Diller and IAC. Tina Brown — editor of Newsweek and The Daily Beast — tried her best, but aside from generating some catchy/creepy covers, Newsweek continued to flounder. After the magazine was folded, Diller even admitted that being involved with Newsweek was a mistake.

IAC will operate Newsweek for the next 60 days, after that, it’s all IBT Media’s. For better or worse.

Gary Susman Ponders the Nikki Finke Drama

The headline for this particular TIME op-ed asks a great question: “What’s Next for Hollywood’s Most Feared Reporter?” Unfortunately, there’s not much in the article itself about where Nikki Finke might ostensibly Toldja! from next.

Article author Gary Susman, a veteran entertainment journalist who has written for Moviefone, Entertainment Weekly and People, winds his way to a tacit conclusion drawn by several others since Sharon Waxman fired a shot across the bow of HMS Deadline on Sunday night. Namely, that Finke could opt out of her Penske contract any day now and re-incorporate as a standalone blogger.

One place Finke will definitely not be going is Manka Bros. Studios, an entirely fictitious operation overseen by Warner Bros. business development executive John Perry. But that didn’t stop Perry from alter-ego blogging a June 3 job offer.

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Better Ways to Spend Money Than Buying Newsweek

Newsweek is for sale again. According to Variety, the folded magazine — which still has some print editions overseas — has been put on the block by IAC. This is hardly surprising, given that Barry Diller recently said buying Newsweek was “a mistake,” and added that he doesn’t have much faith in the digital version.

Last time Newsweek was sold, it was purchased for $1 and the assumption of a heaping amount of debt. If someone wants to buy it again, it’ll be the same story. But why would anyone want the publication? It just seems like IAC seeking buyers is the last nail in the coffin for the brand.

If you’re considering purchasing Newsweek, first, please stop drinking. Now, think about how insane it would be to take on a brand that loses millions consistently. Okay, now, below are some better ways to spend your money. Consider them first.

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Morning Media Newsfeed: Diller Regrets Newsweek | SI‘s Gay Player Scoop | Vieira Snubs Stelter

EDITOR’S NOTE: We apologize for the recent delays in the Morning Media Newsfeed. We’ve switched platforms for the newsletter, and with that came one too many bugs. Our tech team has promised us that the newsletter will be delivered at its usual time going forward. We know that the Morning Media Newsfeed is important to you (as one reader put it, “I need my fix!), and we appreciate your sticking with us through the transition. Now, on to the news… 


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Barry Diller Admits Buying Newsweek Was A Mistake (FishbowlNY)
The “Most Honest And Unintentionally Depressing Answer Of The Day” award goes to Barry Diller, IAC’s chairman. In an interview with Bloomberg TV, Diller admits that buying Newsweek was a mistake, and even adds that the all-digital NewsBeast isn’t likely to succeed: “For a news magazine, which is a bit of an odd phrase today, it was not possible to print it any longer. We said we will offer digital products. We have a very solid newsroom. We will see. I do not have great expectations. I wish I had not bought Newsweek. It was a mistake.” Bloomberg Businessweek IAC doesn’t officially disclose financial figures for the Newsweek/Daily Beast unit. A person with direct knowledge of the matter told Bloomberg News in July the business would probably lose as much as $22 million in 2012. The publisher cut editorial jobs in December in an effort to hold down expenses. Read more

Morning Media Newsfeed: Diller Regrets Newsweek | SI‘s Gay Player Scoop | Vieira Snubs Stelter


arrow_hp.jpgClick here to receive Mediabistro’s Morning Media Newsfeed via email.

Barry Diller Admits Buying Newsweek Was A Mistake (FishbowlNY)
The “Most Honest And Unintentionally Depressing Answer Of The Day” award goes to Barry Diller, IAC’s chairman. In an interview with Bloomberg TV, Diller admits that buying Newsweek was a mistake, and even adds that the all-digital NewsBeast isn’t likely to succeed: “For a news magazine, which is a bit of an odd phrase today, it was not possible to print it any longer. We said we will offer digital products. We have a very solid newsroom. We will see. I do not have great expectations. I wish I had not bought Newsweek. It was a mistake.” Bloomberg Businessweek IAC doesn’t officially disclose financial figures for the Newsweek/Daily Beast unit. A person with direct knowledge of the matter told Bloomberg News in July the business would probably lose as much as $22 million in 2012. The publisher cut editorial jobs in December in an effort to hold down expenses.

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Barry Diller Admits Buying Newsweek Was a Mistake

The “Most Honest And Unintentionally Depressing Answer Of The Day” award goes to Barry Diller, IAC’s chairman. In an interview with Bloomberg TV, Diller admits that buying Newsweek was a mistake, and even adds that the all-digital NewsBeast isn’t likely to succeed:

For a news magazine, which is a bit of an odd phrase today, it was not possible to print it any longer. We said we will offer digital products. We have a very solid newsroom. We will see. I do not have great expectations. I wish I had not bought Newsweek. It was a mistake.

Okay! Now, get to work Tina Brown and crew! Or don’t.

Columbia Prof: To Survive, Broadcast TV Must Disrupt Its Own Business Model

First went the publishing industry. Now, it’s broadcast television watching its profits sink as the internet and the rise of cable TV eat away at its business model.

So, what’s a CBS or NBC or ABC to do? Disrupt its own model, argues Columbia Business School professor Rita Gunther McGrath.

In a post on the Harvard Business Review, she writes:

The basic problem is that the constraints which broadcasters have historically used to protect their profits have now been relaxed — or have even disappeared. Indeed, the New York Times recently noted that the profit model for broadcasters is under assault, citing “cracks in the citadel of TV profits.” The issue is that when you sell things in bundles you can charge for a whole bunch of things nobody really wants — customers will pay for the entire bundle in order to get the one or two things they actually want. This worked for years in cable television — give customers hundreds of channels they won’t watch but will pay for anyway in order to obtain ESPN or HBO.

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Matt Blank, Dennis Basso and the Story Behind Meghan McCain’s Latest TV Project

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Last week,  it was all about authors and agents, and today it was television titans’ turn in the rotating cast of characters that is Wednesdays at Michael’s. Tonight when Liz Smith hosts her annual kick-off for her Literacy Partners’ initiative, the joint will be jumping with social types like Diane von Furstenberg (who, we hear, recently broke her shoulder skiing and is, no doubt, sporting a fashionable sling) and her Vespa loving hubby Barry Diller, Cynthia McFadden, Cornelia Guest, Calvin TrillinNan Talese and Gay Talese. We won’t be there to trade air kisses with the glitterati, because we’ll be chatting up our favorite Bravolebrities at their upfront party across town (Giggy, that means you!).

Today I was joined by Evan Shapiro, president of pivot (yes, with a lower case ‘p’) the new cable network targeting the all-important millennial audience  launched by Participant Media, the production company responsible for an impressive slate of projects, including An Inconvenient Truth, The Help and Steven Spielberg‘s Lincoln. Participant chairman and founder Jeff Skoll and CEO Jim Berk tapped Evan to spearhead the company’s expansion into television in May of last year. Prior to that, he had served as president of IFC and Sundance Channel where we was responsible for award-winning program, like the buzzed about Portlandia.

I could barely keep up with Evan, whose passion for his latest gig was evident from the moment he sat down. The incredibly youthful 45-year-old father of two teenage girls told me running pivot is his “dream job,” because he’s doing more than creating what he considers groundbreaking television. “Ten years ago I would have said my dream job would have been at NBC or CBS.  Today, it’s this job because we’re doing something that’s going to have an impact on the world.” Evan dismisses the notion of millennials as spoiled and entitled and instead compares them to ‘the greatest generation’ saying, “Like ‘the greatest generation,’ they have been handed a series of events not of their own making, and, post 9/11 and the Great Recession, they have a real sense of their place in the world and want to make a difference.”

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Tina Brown, Newsweek/Daily Beast Editor-in-Chief, Talks About Going Digital

Tina Brown, the Newsweek/Daily Beast editor-in-chief, discussed the decision this morning on CBS This Morning to move her publication from print to digital.

As we reported yesterday, after 80 years of buying Newsweek at the newsstand or by home delivery, the company is dropping the print version as of December 31.

Brown told Charlie Rose this morning that the mobile app is no longer the future.

“We really do feel that we’ve reached a tipping point in this industry,” Brown said. “That you’re seeing now – there are 17 million tablets now in the U.S., iPad Minis coming out with 10 million ordered.”

Rose asked her if this dramatic move was expected at the beginning of Brown’s tenure at Newsweek/Daily Beast.

“Two years ago this wouldn’t have been the absolutely inevitable outcome this fast. But the fact is that The Daily Beast is enormously successful… We have had a 70 percent increase in traffic and we’re part of Barry Diller’s international company, which is 21 digital companies under one roof, so there was always a feeling and a knowledge inside us that eventually we would go to be a digital company.”

More from the CBS interview after the jump.

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Small Powerhouse | Poor Excuse for a Movie | Either Way

AppNewser: iPad Mini cases are starting to show up on store shelves. An iPad Mini sounds like a terrible idea, but we’re sure Apple will still sell millions of them.

FishbowlLA: Barry Diller says movies suck because rich people stopped getting even more rich from them. Sounds about right.

SocialTimes: Taplister is an app that helps you find craft beers. Or you could go to a store!

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