"Newsweek" and the new Daily Beast website will be announced 12 new joint venture composed of one hand, the news magazine for the precarious vitality into the new media, on the other hand for the newborn Web site provides the reliability of old media.
It is reported that a joint venture company named Newsweek Daily Beast Co., Has served as Vanity Fair, The New Yorker and many other well-known magazine editor Tina Brown will lead the combined editorial team, and maintain independence. Under the merger statement, "Newsweek" magazine published will be retained, but its Web site operations will be merged into the Daily Beast website.
Daily Beast site was established just two years, mainly focusing on news and reviews, owned by IAC Group. "Newsweek" news magazine and other vulnerable, faces the lack of advertising support, the circulation decline and other issues, in August 2008 by Sidney • audio-visual equipment giant Harman (Sidney Harman) per share, adollarplus 4700 million of debt acquired symbolic, in 2009 losses to $ 28,100,000. After the merger, Sidney • Harman will serve as CEO, IAC chairman Barry • Diller (Barry Diller) will become a board member, the two companies each own 50% of the shares.
In a statement, Harman said that in this challenging era, the merger of two companies the authority of traditional journalism, and the promising idea of the perfect combination of sites. Although the two companies merged today reached an agreement on the organizational structure, the overall program has been finalized, but a small part of the staffing issues still need fine-tuning
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