Newsweek Sold to Business News Site Aug 5th 2013, 03:59
Last year we reported about how Newsweek, a popular magazine that had seen print publication for 80 years, was transitioning into a digital-only medium starting on December 31st, 2012. Less than a year after its transition, Newsweek is being sold to International Business Times.
The sale doesn't come as much of a surprise since Newsweek's owner admitted in April that he regretted ever buying the magazine. Newsweek is part of a joint venture with The Daily Beast but will be sold separately. The International Business Times will operate the magazine as a subsidiary and won't change anything right away.
Further details of the sale have yet to be released.
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Original Story Newsweek Sold to Business News Site
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