Newsweek (Digital)

Newsweek was an American weekly news magazine that was published in New York City in print form from 1933 to 2012. Its print edition was distributed throughout the United States and internationally. It was the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence. It was published in four English language editions and 12 global editions written in the language of the circulation region. Newsweek continues as a news reporting and opinion website with its first digital-only issue published on January 4, 2013 and is still being printed in the UK and Europe.Between 2008 and 2012, Newsweek underwent internal and external contractions designed to shift the magazine's focus and audience while improving its finances. Instead, losses accelerated: revenue dropped 38 percent from 2007 to 2009. The revenue declines prompted an August 2010 sale by owner The Washington Post Company to 92-year-old audio pioneer Sidney Harman—for a purchase price of $1.00 and an assumption of the magazine's liabilities.Editor Jon Meacham left the magazine after the sale.[3]In November 2010, Newsweek merged with the news and opinion website The Daily Beast, forming the Newsweek Daily Beast Company, after negotiations between the owners of the two publications. Tina Brown, The Daily Beast's editor-in-chief served as the editor of both publications. Newsweek was jointly owned by the estate of the late Harman and the diversified American Internet company IAC.On October 18, 2012, Brown announced that Newsweek would cease print publication - at least in the U.S. - with the December 31, 2012, issue and transition to an all-digital format, to be called Newsweek Global.On April 29, 2013, IAC/Interactive Corporation Chairman and Founder Barry Diller stated at the Milken Global Conference that he "wished he hadn't bought" Newsweek because his company had lost money on the magazine and called the purchase a "mistake" and a "fool's errand.