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13 Nov 2010 14:37

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Biz: Newsweek/Daily Beast merger: “like a bad Nora Ephron movie” if it fails

  • Married people disagree all the time. One of them walks out of the room and says, ‘Never talk to me again.’ Then they sleep it off and one sends the other flowers. We realized that there was much more that connected us than separated us.
  • Newsweek owner Sidney Harman  • Explaining the dynamic between the ownership of his Newsweek and that of the Barry Diller-owned Daily Beast. One anonymous source described the potential failure of the collaboration being “like a bad Nora Ephron movie.” Will the collaboration turn out like “Sleepless in Seattle,” “You’ve Got Mail,” or “Bewitched”? All we know is that we’ll have what they’re having.  source

12 Nov 2010 20:55

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Biz: Newsweek’s Daily Beast merger: Two money-losers, one with momentum

  • $10M the amount The Daily Beast is on track to lose this year; it’s relatively new, so that’s not bad
  • $20M the amount Newsweek is on track to lose; it’s been bleeding for a long freaking time
  • $1 the amount Sidney Harman spent to buy Newsweek; he also took on all its debt source
  • » Is this a deal just to get Tina Brown? It wouldn’t be unprecedented. See, Brown, a longtime magazine editor for Vanity Fair and The New Yorker, has the chops to help make Newsweek a success again, and Barry Diller’s Daily Beast, while growing at a nice clip (5 million online readers a month, which means that nowadays, it’s probably read about as widely as Newsweek, which sells 1.6 million print copies – significantly down from just a year ago), probably needs a print component to anchor its Web efforts and ensure profitability. And plus, NBC Universal bought Barry Diller’s USA Network back in 2001 basically to get Diller.

12 Nov 2010 10:37

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Biz: Newsweek, The Daily Beast become singular corporate beast

  • Nothing more to add to this, really. Good luck guys. source