Newsweek Redesign on the Way?
Reports say ad buyers will soon get preview.
Days after Newsweek and the Daily Beast officially merged, reports come that a redesigned Newsweek is about to make the rounds among ad buyers.
The magazine is offering deep discounts according to Adweek, which quotes one anonymous ad buyer as saying, "I can’t fall off the floor with my rates."
Newsweek and The Daily Beast completed their merger on Feb. 1, creating a company called The Newsweek/Daily Beast Co. that is led by four directors: Newsweek buyer Sidney Harman as executive chairman, Daily Beast owner Barry Diller and two others-one appointed from each side. Tina Brown is editor-in-chief of both properties while former Daily Beast president Stephen Colvin is CEO.
Ad pages fell 19.8 percent to 895 in Newsweek in 2010, according to Publishers Information Bureau. Former owner Washington Post Co. said the magazine lost $30 million in 2009 before selling to Harman.