Earlier today, "The Daily Beast" and "Newsweek" announced that they would be combining. This had been announced by the new mixed editor Tina Brown. These 2 advertising companies will continue operations, with changes. The relationship is full 50 percent. There will be one editor for the two news operations. Tina Brown intends on running them very differently.

Seeing ‘The Daily Beast’ and ‘Newsweek’ as one

"The Daily Beast" is a news and editorial website that has been running for about 2 yrs. Stephen Colvin, founder of "The Week" and "Maxim," and Tina Brown, former editor of "Vanity Fair", run it together. "The Washington Post" sold "Newsweek" last year. Sidney Harmon bought it for $1. "Newsweek" plans to continue operations. It has been going for 77 years already.

Different media for different partners

The Newsweek Daily Beast Company is something Tina Brown sounded really looking forward to in an NPR interview. A 24/7 news cycle is what the web is great for which can be "beast-like" hopefully. She then said that "Newsweek" could be doing something else entirely. Magazines, she claims, are the perfect medium for long-form, investigative, "meaningful" journalism the web simply cannot very easily support.

…having done so much Web news now, I can really see what a magazine can offer, which is unique in the marketplace … is a different kind of narrative rhythm. … In a magazine you can be more reflective…

 

This means that Newsweek could be the "arm" of the newest media company when "The Daily Beast" can have the "animal-like" energy that has been what it is known for.

What the Newsweek Daily Beast Company would do

There is an interesting 50 percent divided of power in the company. This is how the Newsweek Daily Beast Company is planning on going. So far, the InterActive Corp and Barry Diller have been financing. This is how "The Daily Beast" has gotten by. USA Broadcasting and Fox Broadcasting Company are what Barry Diller is known for creating. Diller is also the Chairman of Expedia. Between 2007 and 2009, there was a 38 percent drop in revenue for "Newsweek" which is why $1 had been all Sidney Harmon had to pay for it. The two companies will share profits and revenues, and also the hope is that the partnership will shore up "Newsweek’s" cuts, which for just the first quarter for 2010 clocked in at $11 million.

Info from

New York Times

mediadecoder.blogs.nytimes.com/2010/11/11/newsweek-and-daily-beast-partnership-to-be-announced/

NPR

npr.org/blogs/thetwo-way/2010/11/12/131265004/tina-brown-merger-of-newsweek-and-daily-beast-amplifies-both

Wikipedia

en.wikipedia.org/wiki/Newsweek

The Daily Beast

thedailybeast.com/blogs-and-stories/2010-11-11/the-daily-beast-and-newsweek-to-wed/