The Daily Beast Is In Strong Talks With Newsweek

Posted Oct 10, 2010

Political website The Daily Beast and printed news publication Newsweek are in talks about a possible combination. One of the biggest challenges will be the merger of three strong personalities too.

The deal would put The Daily Beast co-founder Tina Brown as the editor of Newsweek. This would be on top of her existing duties as The Daily Beast. She would be reporting both to IAC Chairman Barry Diller and stereo conglomerate Sidney Harman. Sidney Harman bought Newsweek from Washington Post Co.

Newsweek is close to losing $20 million this year and The Daily Beast is hitting an average of 4.6 million visitors per month. The Daily Beast may be losing $10 million this year according to a source with The Wall Street Journal.