International Business Times buys Newsweek; will not restart print edition

[Newsjock]

Source: Capital New York

Earlier today, IAC/Interactive reached a deal to sell Newsweek, which has been publishing since January as a digital-only version of the old magazine, to the owners of the International Business Times.

The announcement ends weeks of speculation about who might purchase what remains of the 80-year-old journalism brand, which was on the block for the second time in just three years.

Newsweek, the once-venerated weekly newsmagazine that at its height in the early '90s rivaled Time for readers and exercised tremendous influence on Washington politics, fell on hard times under the ownership of The Washington Post Company, and was sold to audio-equipment magnate Sidney Harman for a dollar in late 2010.

... "Newsweek will remain fully digital as IBT Media’s holdings are all 100 percent digital properties," a spokeswoman for IBT Media confirmed to Capital, when asked whether there were any plans for a return of the print edition. "No print," she added.

Read more: http://www.capitalnewyork.com/article/media/2013/08/8532532/newsweek-has-been-sold-ibt-media-publishers-international-business-tim

[DonCoquixote]

1. the quote that says eveything

"fell on hard times under the ownership of The Washington Post Company" aka Murdoch.

[JI7]

2. murdoch is washington times, but washington post and other once respected papers

have been pretty bad compared to their early years . they were especially horrible during the Bush years.