It Costed Newsweek $7 Million To Shutdown Print Operations
InterActiveCorp has announced their Q4 earnings. The company runs media properties like Match.com, Ask.com, and About.com. IAC also has a controlling stake in Newsweek Daily Beast. Newsweek ended their printing edition last year to focus on their digital publication. Winding down print operations came at a price for the company.
The shutdown of the print operations costed IAC around $7 million according to an executive at the company during their earnings call.
On the cover of the last issue of Newsweek, there was a picture of the Newsweek building and at the bottom was a hashtag that said #LastPrintIssue in bold.
Shutting down the print version of Newsweek cost IAC $7 million in restructuring, they say on earnings call. $IACI
— Sarah Frier (@sarahfrier) February 6, 2013
— Alyssa Conley (@alyssa_con) January 30, 2013