Beast link to Newsweek
By Sakthi Prasad |
October 12, 2010, Tuesday
|
Print Edition
Print Edition
UNITED States weekly magazine Newsweek and the Daily Beast news website are exploring possibilities to combine their operations, and the likelihood of a deal is increasing, the Wall Street Journal said, citing people familiar with the discussions.
A deal would make Daily Beast co-founder and co-owner Tina Brown the editor of Newsweek on top of her existing editorial duties at the website, the Journal said.
Audio equipment magnate Sidney Harman, the founder of Harman International Industries Inc, bought the money-losing Newsweek from The Washington Post Co in August.
The Daily Beast publishes news and commentary, and now averages 4.6 million visitors a month, the Journal said, citing data from Omniture, a Web analytics company.
It is expected to lose about US$10 million this year, an insider told the Journal.
However, The Daily Beast executives claim that the portal is on its way to becoming profitable in two years, according to the Journal.
A deal would make Daily Beast co-founder and co-owner Tina Brown the editor of Newsweek on top of her existing editorial duties at the website, the Journal said.
Audio equipment magnate Sidney Harman, the founder of Harman International Industries Inc, bought the money-losing Newsweek from The Washington Post Co in August.
The Daily Beast publishes news and commentary, and now averages 4.6 million visitors a month, the Journal said, citing data from Omniture, a Web analytics company.
It is expected to lose about US$10 million this year, an insider told the Journal.
However, The Daily Beast executives claim that the portal is on its way to becoming profitable in two years, according to the Journal.
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