Newsweek

Newsweek is an American weekly news magazine based in New York City. Founded as a weekly print magazine in 1933, it was widely distributed during the twentieth century and has had many notable editors-in-chief. It is currently co-owned by Dev Pragad, the president and chief executive officer (CEO), and Johnathan Davis, who sits on the board; each owns 50% of the company. In August 2010, revenue decline prompted the Washington Post Company to sell Newsweek to audio pioneer Sidney Harman for one US dollar and an assumption of the magazine's liabilities. Later that year, Newsweek merged with the news and opinion website The Daily Beast, forming the Newsweek Daily Beast Company, later called NewsBeast. Newsweek was jointly owned by the estate of Harman and the company IAC. Newsweek continued to experience financial difficulties, leading to the suspension of print publication at the end of 2012. In 2013, IBT Media, the owner of the International Business Times, acquired Newsweek from IAC; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast. IBT Media rebranded itself as Newsweek Media Group and in 2014 relaunched Newsweek in both print and digital form. In 2018, the company split into Newsweek Publishing and IBT Media. The split was accomplished one day before the Manhattan District Attorney indicted IBT Media co-owner Etienne Uzac on fraud charges.