Newsweek is returning to print
Going back to its roots
The last three years have been challenging for Newsweek - due to a sharp reduction in the number of readers and revenues generated from the magazine, in 2010 it was sold to billionaire investor Sidney Harmon. Harmon has invested a total of $40 million to pay off the debts and Newsweek merged with The Daily Beast portal. The venture did not meet expectations, and in October 2012, Tina Brown, Editor of the combined edition, announced that Newsweek would cease to be printed and would continue to exist as an online magazine entitled Newsweek Global.
In May, Tina Brown announced plans to focus on The Daily Beast and sell Newsweek. Then in the following August, the title was bought by a small media company IBT, and in September Jim Impoco was brought on board as Editor in Chief.
Impoco promises that the first printed issue of the magazine will be available in January or February and will consist of 64 pages, telling The Times that Newsweek will "be a more subscription-based model ... We see it as a premium product, a boutique product."