How could you not read a news publication titled "News Beast"? Well, I'm not sure if that is actually going to be the title of the newly merged online news purveyor The Daily Beast and the news magazine Newsweek. The merger, announced November 12, is just the latest in a long line of media based buyouts, bankruptcies and bifurcations (just rolling with the alliteration).IAC, a massive internet business group that owns Ask.com, CollegeHumor, Match.com and The Daily Beast among others, entered into a joint venture with Newsweek owner Sidney Harman earlier this week. Harman, who purchased Newsweek earlier this year for $1 from the Washington Post Co., will remain as Executive Chairman. While Tina Brown from the Beast will become Editor-in-Chief for Newsweek magazine and remain Editor-in-Chief of the Beast.
So what? Well, the Daily Beast, as mighty a internet news source as it may be, is still in the internet limbo of possibly, maybe, almost-but-not-quite, attempting to be profitable. Newsweek has been suffering for a while now, an epidemic shared by most every physical news sources you can point at, but the partnership seems to add a good bit for both publications. I am excited to see where the "Newsbeast" will go and what this merger may mean for the media landscape.
Great, witty, informative post! Only that this time around I notice a proofreading error: "a internet news source."
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