Three major media buyouts in three days. The Daily Beast, the real moneyloser continues as a separate entity. As Pappy once quipped, they couldn't find a way to lash the two (The Daily Beast and Newsweek) together.
Newsweek, the iconic newsmagazine brand, was acquired Saturday by IBT Media, which publishes the news website International Business Times.
Newsweek has long been financially troubled and the venerable magazine published its last print edition in December. It was sold to IAC/InterActive in 2010, which had added it to the Daily Beast news website.
| It's not polite to snicker. Pointing and laughing, however, seem required in a situation like this. |
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