Earlier today, “The Daily Beast” and “Newsweek” announced that they would be combining. This had been announced by the newest blended editor Tina Brown. These two advertising companies will continue operations, with changes. The partnership is full 50 percent. The 2 various news advertising outlets may have two very various styles of approaching the news. Article resource – Newsweek Daily Beast – Marrying to go 2 different directions by Personal Money Store.
‘The Daily Beast’ and ‘Newsweek’ merge
For news and editorial, "The Daily Beast" is the place to go. For about two years, it has been running. 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.
Two different partners working in media
There was an NPR interview that Tina Brown was in. The Newsweek Daily Beast Company is one she was excited to work on. She said "Newsweek" will go a different direction while there will be a perfect web-based news cycle that is "beast-like" and is accessible 24/7. Since the web can't really support investigative, "meaningful" journalism, she said that magazines will work better.
…having done so much Web news now, I can really see what a magazine can offer, which is unique in 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 the investigative journalism.
What the Newsweek Daily Beast Company would do
The new Newsweek Daily Beast Company has a full 50 percent split of control. So far, the InterActive Corp and Barry Diller are financing. This is how "The Daily Beast" has gotten by. There is a reason you recognize Barry Diller's name. He created USA Broadcasting and Fox Broadcasting Company. Expedia also has Diller as a chairman. Sidney Harmon only had to pay $1 for "Newsweek." This was because between 2007 and 2009 there was a 38 percent drop in revenue. The two companies will share profits and revenues, and the hope is the partnership will shore up “Newsweek’s” cuts, which for just the first quarter for 2010 clocked in at $11 million.
Information from
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/
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