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Vanity Fair

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Vanity+Fair

The Newsweek And Daily Beast Make A Partnership

In an announcement created this morning, "The Daily Beast" founder Tina Brown confirmed that the site can be combining with "Newsweek". The relationship is full half-and-half. The 2 media companies will continue publishing. There can be one editor for the 2 media operations. Brown intends on running them really differently.

'The Daily Beast' and 'Newsweek' merge

For about two years now, “The Daily Beast” has been running as a news and editorial website. Stephen Colvin, founder of “The Week” and “Maxim,” and Tina Brown, former editor of “Vanity Fair, run it together. Sidney Harmon bought “Newsweek” for $1 from “The Washington Post”. ”Newsweek” plans to continue operations. It has been going for 77 years already.

Different partners are going to be interested in different media

Tina Brown, in an interview on NPR this morning, sounded incredibly excited about the possibilities of The Newsweek Daily Beast Company. She outlined how the 24/7 news cycle could be "beast-like" and when the web is perfect for that, she intends on taking "Newsweek" a different direction. She thinks that a magazine can be an excellent idea. This is because “meaningful” and long term journalism can’t be supported very easily on the web.

...having done so much Web news now, I can actually see what a magazine can offer, which is unique within the marketplace ... is a different kind of narrative rhythm. ... In a magazine you are able to be more reflective...

As “The Daily Beast” is well known for “animal-like” energy, it will continue to be like that. Newsweek, on the other hand, could be the “arm” of the company in its investigative journalism.

The information on the Newsweek Daily Beast Company

50 percents divided control is had in the Newsweek Daily Beast Company. Barry Diller and InterActive Corp are financing "The Daily Beast.". Barry Diller is best known for creating USA Broadcasting and Fox Broadcasting Company. That’s not all. Diller is also on the Expedia chair. Sidney Harmon only had to pay $1 for “Newsweek.” This was because between 2007 and 2009 there had been a 38 percent drop in revenue. There is a hope that the losses “Newsweek” has made can be balanced out by the revenues of the other company as $11 million is already what the first quarter of 2010 showed as a loss.

Citations

New York Times

mediadecoder.blogs.nytimes.com/2010/11/11/newsweek-and-daily-beast-partnership-to-be-announced/

NPR

npr.org/blogs/thetwo-way/2010/11/12/131265004/tina-brown-merger-of-newsweek-and-daily-beast-amplifies-both

Wikipedia

en.wikipedia.org/wiki/Newsweek

The Daily Beast

thedailybeast.com/blogs-and-stories/2010-11-11/the-daily-beast-and-newsweek-to-wed/

Vanity Fair (2004) with Reese Witherspoon Trailer

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