Newsweak fires 50 on editorial side
Guess they couldn't lash the two lifeboats together... Newsweak and the Daily Beast are also going to a metered paywall. Pretty soon you'll have to pay for the privilege of reading Meghan McCain and Andrew Sullivan beat conservatives over the head for being conservative.
It's got to be a sad day at the Newsweek Daily Beast Co., where the layoffs that have been expected since the company announced it would fold the dead-tree edition of Newsweek have begun.
The staff got an email at lunchtime today from editor in chief Tina Brown and CEO Baba Shetty notifying them that editorial staffers would learn if their positions are being eliminated.
The company announced in October that it would take Newsweek digital-only in 2013--it's expected to lose $40 million this year, mostly from the newsmagazine--ending a costly experiment to combine the weekly publication and online upstart into a profitable entity.
Meantime, it's exploring the possibility of moving the Daily Beast to a metered access model, à la The New York Times, Adweek has learned.
Posted by: badanov 2012-12-08