Skip to comments.Big Investor Bailing from Newsweek/Daily Beast
Posted on 07/24/2012 6:47:05 AM PDT by Zakeet
A big publishing story of 2010 was when stereo equipment magnate Sidney Harman bought financially troubled Newsweek Magazine for $1 in the hopes of revitalizing the venerable old publication into the "thought leader" it once was. Now, since Mr. Harman's death, his family seems poised to bail on the old man's publishing charity case along with the left-leaning Daily Beast website.
Since Sydney Harman bought Newsweek and took controlling interests in the Daily Beast, neither has become a profitable venture. This has caused the Harman family to re-think their position.
Things are changing, says the Harmans.
"However, given the death of Sidney Harman, who was actively involved in the Newsweek Daily Beast business, the Harman trust has indicated that it does not intend to make further capital contributions to the venture."
The Daily Beast, launched to great fanfare in 2008 by Barry Diller and Tina Brown, quickly built a readership on the Internet. But, as Reuters notes, "advertising sales never caught up with the buzz, and media reports have estimated losses at The Daily Beast at around $10 million annually."
(Excerpt) Read more at breitbart.com ...
Personally, I can't see how they could possibly be losing all that money.
For some reason, I get Newsweek in the mail every week. It goes straight to the garbage can.
Detroit Free Press, News offer buyouts to staffers
Boston Globe offers buyouts to employees, lays off 10
Sorry, but David Geffen doesnt want to buy your newspaper
IAC/InterActive (IACI) Said to Take Full Control of Newsweek Daily Beast
I am also receiving hard copy SPAM (unsolicited bulk messages indiscriminately sent) by Newsweek each week.....the environmentalists should be notified....being a good boy I recycle my SPAM immediately upon receipt.
I wonder how much of their circulation is SPAM.
Newsweak and propaganda high.
It mysteriously started coming to my office. After a year they sent a bill. After 6 more months it finally stopped. I would say a LARGE portion of their “sales” are bogus.
Collectivists don’t understand capitalism!
-——high staff turnover on both the business and editorial side. -——
Translation: the refugees laid off from all the various failing MSM publications that were scooped up by the Daily Beast leave as soon as another gig presents its self.
My mother had a subscription to USN&WR. When it folded, the publisher substituted TIME.
I had a business partner in a TV venture that thought he was smarter than Barry Diller. Turns out they are both as dumb as a box of rocks.
“I am also receiving hard copy SPAM (unsolicited bulk messages indiscriminately sent) by Newsweek each week.....the environmentalists should be notified....being a good boy I recycle my SPAM immediately upon receipt.
I wonder how much of their circulation is SPAM.”
Have a great idea for you. If you have a postage-paid return reply envelope or card take a brick and pack it into a small box all nice and neat. Then take the envelope or card and affix it to the box with some clear packing tape. Take it to the post office and mail it.
Guess who has to pay for the extra postage on that brick?
Most people have NO IDEA where liberal media propaganda comes from.
AND WHO PAYS FOR IT....
Most of these Obama Journo-listers will say whatever the rich libs want them to say, as long as the checks keep coming.
I would be willing to take ownership of this for $500, provided I get full ownership including final editorial approval. I would do an immediate overhaul of the format to focus on:
- 2 stories in a set of categories(govt/law/regulation, business/economy, world news, science/technology)- 1 page each
- 1 story in another set (history, health, literature/entertainment, sports)- 1 page each
- a summary of additional stories from the week- 1 page
- a page of 1-5 panel comics
- plus one major ad hoc hardcore investigation piece of no more than 5 pages
- and the GOOD page highlighting someone or something that is positive
Website would be used to flesh out 1 pagers and summaries including potential links to other news sources, provide supporting documentation for the five pager, request idea submissions, and a few additional stories.
Would need to bring in editors that are only interested in stating facts. I believe that the US is still interested in an unbiased news source in print and on the net. If anyone can point me in the right direction to do the purchase please let me know.
I’m actually serious about this as I think that the majority of media has become so biased it is now largely ignored. We often talk about liberal bias in the media but we don’t talk often about how to take action - I’d go higher than the $500. Anyone care to join me?