Sunday, November 14, 2010

Newsweek and The Daily Beast Merge

MIAMI - NOVEMBER 12:  The Daily Beast web site...Image by Getty Images via @daylife
A merger between Newsweek and the Daily Beast will be announced this morning with former New Yorker and Vanity Fair editor Tina Brown at its helm, according to the New York Daily News. The New York Observer broke the news late Thursday night, which Brown confirmed on her Web site. "The union of The Daily Beast and Newsweek magazine finally took place with a coffee-mug toast between all parties Tuesday evening," wrote Brown, who helped launch the reporting and opinion site the Daily Beast in 2008. "The final details were only hammered out last night." Speculation about the merger has swirled for weeks, with the deal seeming to hang by a thread as Brown wrestled for more editorial control from Newsweek owner Sidney Harman, 91, who bought the ailing news magazine in August for $1. Brown wrote of her desire to work with Harman to "restore Newsweek to its glory days" and infuse the older publication with some of the "new creative energy" that has helped draw 5 million unique visits per month to the Beast, according to Brown.


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