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====Restructuring and new owner (2008–2010)====
====Restructuring and new owner (2008–2010)====
[[File:Newsweek 05 24 09.jpg|thumb|left|The first issue released after the magazine switched to an opinion and commentary format]]
[[File:Newsweek 05 24 09.jpg|thumb|left|The first issue released after the magazine switched to an opinion and commentary format]]
During 2008{{mdash}}2009, ''Newsweek'' undertook a dramatic business restructuring.<ref>{{cite news|first=Richard|last=Pérez-Peña|title=The Popular Newsweekly Becomes a Lonely Category|url=https://www.nytimes.com/2009/01/17/business/media/17weeklies.html|work=The New York Times|date=January 16, 2009|access-date=January 17, 2009|archive-url=https://web.archive.org/web/20090415233350/http://www.nytimes.com/2009/01/17/business/media/17weeklies.html|archive-date=April 15, 2009|url-status=live}}</ref><ref>{{cite news|author=Kathleen Deveny|title=Reinventing Newsweek|url=http://www.newsweek.com/id/195620|work=Newsweek|date=May 18, 2009|access-date=May 29, 2009|archive-url=https://web.archive.org/web/20090509191800/http://www.newsweek.com/id/195620|archive-date=May 9, 2009|url-status=live}}</ref> Citing difficulties in competing with online news sources to provide unique news in a weekly publication, the magazine refocused its content on opinion and commentary beginning with its May 24, 2009, issue. It shrank its subscriber rate base, from 3.1{{nbsp}}million to 2.6{{nbsp}}million in early 2008, to 1.9{{nbsp}}million in July 2009 and then to 1.5{{nbsp}}million in January 2010{{mdash}}a decline of 50% in one year. [[Jon Meacham]], Editor-in-chief from 2006 to 2010,{{r|JonMeacham_dot_com}} described his strategy as "counterintuitive" as it involved discouraging renewals and nearly doubling subscription prices as it sought a more affluent subscriber base for its advertisers.{{r|Kurtz_WaPa_20090518}} During this period, the magazine also laid off staff. While advertising revenues were down almost 50% compared to the prior year, expenses were also diminished, whereby the publishers hoped ''Newsweek'' would return to profitability.<ref>Richard Pérez-Peña. [https://www.nytimes.com/2009/11/16/business/media/16newsweek.html?_r=0 "Glimmers of Progress at a Leaner Newsweek"] {{Webarchive|url=https://web.archive.org/web/20160722054425/http://www.nytimes.com/2009/11/16/business/media/16newsweek.html|date=July 22, 2016 }}. ''The New York Times''. November 15, 2009</ref>
During 2008{{mdash}}2009, ''Newsweek'' undertook a dramatic business restructuring.<ref>{{cite news|first=Richard|last=Pérez-Peña|title=The Popular Newsweekly Becomes a Lonely Category|url=https://www.nytimes.com/2009/01/17/business/media/17weeklies.html|work=The New York Times|date=January 16, 2009|access-date=January 17, 2009|archive-url=https://web.archive.org/web/20090415233350/http://www.nytimes.com/2009/01/17/business/media/17weeklies.html|archive-date=April 15, 2009|url-status=live}}</ref><ref>{{cite news|author=Kathleen Deveny|title=Reinventing Newsweek|url=http://www.newsweek.com/id/195620|work=Newsweek|date=May 18, 2009|access-date=May 29, 2009|archive-url=https://web.archive.org/web/20090509191800/http://www.newsweek.com/id/195620|archive-date=May 9, 2009|url-status=live}}</ref> Citing difficulties in competing with online news sources to provide unique news in a weekly publication, the magazine refocused its content on opinion and commentary beginning with its May 24, 2009, issue. It shrank its subscriber rate base, from 3.1{{nbsp}}million to 2.6{{nbsp}}million in early 2008, to 1.9{{nbsp}}million in July 2009 and then to 1.5{{nbsp}}million in January 2010{{mdash}}a decline of 50% in one year. [[Jon Meacham]], Editor-in-chief from 2006 to 2010,{{r|JonMeacham_dot_com}} described his strategy as "counterintuitive" as it involved discouraging renewals and nearly doubling subscription prices as it sought a more affluent subscriber base for its advertisers.{{r|Kurtz_WaPa_20090518}} During this period, the magazine also laid off staff. While advertising revenues were down almost 50% compared to the prior year, expenses were also diminished, whereby the publishers hoped ''Newsweek'' would return to profitability.<ref>{{Cite news|last=Pérez-Peña|first=Richard|date=2009-11-16|title=Glimmers of Progress at a Leaner Newsweek|language=en-US|work=The New York Times|url=https://www.nytimes.com/2009/11/16/business/media/16newsweek.html|access-date=2023-01-06|issn=0362-4331}}</ref>


The financial results for 2009 as reported by The Washington Post Company showed that advertising revenue for ''Newsweek'' was down 37% in 2009 and the magazine division reported an operating loss for 2009 of {{US$|29.3}}{{nbsp}}million (equivalent to ${{Inflation|US|29.3|2009|r=2}}&nbsp;million in {{Inflation/year|US}}) compared to a loss of {{US$|16}}{{nbsp}}million in 2008 (equivalent to ${{Inflation|US|16|2008|r=2}}&nbsp;million in {{Inflation/year|US}}).{{r|WaPo_Company_PressRelease2010}} During the first quarter of 2010, the magazine lost nearly {{US$|11}}{{nbsp}}million (equivalent to ${{Inflation|US|11|2010|r=2}}&nbsp;million in {{Inflation/year|US}}).<ref>{{cite news|title=Newsweek magazine is sold by Washington Post|work=[[BBC News]]|url=https://www.bbc.co.uk/news/business-10847466|date=August 2, 2010|access-date=2022-07-07 | archive-url=https://web.archive.org/web/20100803191418/http://www.bbc.co.uk/news/business-10847466|archive-date=August 3, 2010|url-status=live | df = dmy-all}}</ref>
The financial results for 2009 as reported by The Washington Post Company showed that advertising revenue for ''Newsweek'' was down 37% in 2009 and the magazine division reported an operating loss for 2009 of {{US$|29.3}}{{nbsp}}million (equivalent to ${{Inflation|US|29.3|2009|r=2}}&nbsp;million in {{Inflation/year|US}}) compared to a loss of {{US$|16}}{{nbsp}}million in 2008 (equivalent to ${{Inflation|US|16|2008|r=2}}&nbsp;million in {{Inflation/year|US}}).{{r|WaPo_Company_PressRelease2010}} During the first quarter of 2010, the magazine lost nearly {{US$|11}}{{nbsp}}million (equivalent to ${{Inflation|US|11|2010|r=2}}&nbsp;million in {{Inflation/year|US}}).<ref>{{cite news|title=Newsweek magazine is sold by Washington Post|work=[[BBC News]]|url=https://www.bbc.co.uk/news/business-10847466|date=August 2, 2010|access-date=2022-07-07 | archive-url=https://web.archive.org/web/20100803191418/http://www.bbc.co.uk/news/business-10847466|archive-date=August 3, 2010|url-status=live | df = dmy-all}}</ref>
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===Spin-off to IBT Media, return to print (2013–2018)===
===Spin-off to IBT Media, return to print (2013–2018)===
In April 2013, IAC chairman and founder Barry Diller stated at the [[Milken Institute|Milken Global Conference]] that he "wished he hadn't bought" ''Newsweek'' because his company had lost money on the magazine and called the purchase a "mistake" and a "[[Snipe hunt|fool's errand]]".<ref>Bloomberg Television. [http://www.bizjournals.com/houston/video/FudXY5Yjpt0LI5QKptqH_JEXgyUtRxQz?autoplay=1 Barry Diller: It Was a Mistake to Buy ''Newsweek''] {{Webarchive|url=https://web.archive.org/web/20130812133737/http://www.bizjournals.com/houston/video/FudXY5Yjpt0LI5QKptqH_JEXgyUtRxQz?autoplay=1 |date=August 12, 2013 }}. ''[[Houston Business Journal]]'', April 29, 2013.</ref>
In April 2013, IAC chairman and founder Barry Diller stated at the [[Milken Institute|Milken Global Conference]] that he "wished he hadn't bought" ''Newsweek'' because his company had lost money on the magazine and called the purchase a "mistake" and a "[[Snipe hunt|fool's errand]]".<ref>{{Cite web|url=https://www.bizjournals.com/houston/video/FudXY5Yjpt0LI5QKptqH_JEXgyUtRxQz?autoplay&#61;1|access-date=2023-01-06|website=www.bizjournals.com}}</ref>


On August 3, 2013, [[IBT Media]] acquired ''Newsweek'' from IAC on terms that were not disclosed; the acquisition included the ''Newsweek'' brand and its online publication, but did not include ''The Daily Beast''.{{r|ibtpr}}
On August 3, 2013, [[IBT Media]] acquired ''Newsweek'' from IAC on terms that were not disclosed; the acquisition included the ''Newsweek'' brand and its online publication, but did not include ''The Daily Beast''.{{r|ibtpr}}
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==Circulation and branches==
==Circulation and branches==
In 2003, worldwide circulation was more than 4 million, including 2.7 million in the U.S; by 2010 it reduced to 1.5 million (with newsstand sales declining to just over 40,000 copies per week). ''Newsweek'' publishes editions in Japanese, Korean, Polish, Romanian, Spanish, [[Rioplatense Spanish]], [[Arabic language|Arabic]], [[Turkish language|Turkish]], Serbian, as well as an [[English language|English-language]] ''Newsweek International''. ''Russian Newsweek'', published since 2004, was shut in October 2010.<ref>[https://www.wsj.com/articles/SB10001424052702303496104575560053868772146 "Publisher Shuts Russian Weekly"] {{Webarchive|url=https://web.archive.org/web/20170827212540/https://www.wsj.com/articles/SB10001424052702303496104575560053868772146 |date=August 27, 2017 }}. ''[[The Wall Street Journal]]''. October 19, 2010.</ref> ''[[The Bulletin (Australian periodical)|The Bulletin]]'' (an Australian weekly until 2008) incorporated an international news section from ''Newsweek''.
In 2003, worldwide circulation was more than 4 million, including 2.7 million in the U.S; by 2010 it reduced to 1.5 million (with newsstand sales declining to just over 40,000 copies per week). ''Newsweek'' publishes editions in Japanese, Korean, Polish, Romanian, Spanish, [[Rioplatense Spanish]], [[Arabic language|Arabic]], [[Turkish language|Turkish]], Serbian, as well as an [[English language|English-language]] ''Newsweek International''. ''Russian Newsweek'', published since 2004, was shut in October 2010.<ref>{{Cite web|last=Kolyandr|first=Gregory L. White And Alexander|title=Publisher Closes Russian Newsweek|url=https://www.wsj.com/articles/SB10001424052702303496104575560053868772146|access-date=2023-01-06|website=WSJ|language=en-US}}</ref> ''[[The Bulletin (Australian periodical)|The Bulletin]]'' (an Australian weekly until 2008) incorporated an international news section from ''Newsweek''.


Based in New York City, the magazine claimed 22 bureaus in 2011: nine in the U.S.: New York City, Los Angeles, Chicago/Detroit, Dallas, Miami, Washington, D.C., Boston and San Francisco, and others overseas in London, Paris, Berlin, Moscow, [[Jerusalem]], [[Baghdad]], Tokyo, Hong Kong, Beijing, [[South Asia]], [[Cape Town]], Mexico City and [[Buenos Aires]].{{Citation needed|date=March 2011}}
Based in New York City, the magazine claimed 22 bureaus in 2011: nine in the U.S.: New York City, Los Angeles, Chicago/Detroit, Dallas, Miami, Washington, D.C., Boston and San Francisco, and others overseas in London, Paris, Berlin, Moscow, [[Jerusalem]], [[Baghdad]], Tokyo, Hong Kong, Beijing, [[South Asia]], [[Cape Town]], Mexico City and [[Buenos Aires]].{{Citation needed|date=March 2011}}
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[[File:MICHELE BACHMANN NEWSWEEK.jpg|thumb|upright=0.7|Controversial ''Newsweek'' cover, August 15, 2011, issue]]
[[File:MICHELE BACHMANN NEWSWEEK.jpg|thumb|upright=0.7|Controversial ''Newsweek'' cover, August 15, 2011, issue]]
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!!Do not re-add this image or remove this line without proper rationale!! -->
Former Alaska Governor and 2008 Republican vice presidential nominee [[Sarah Palin]] was featured on the cover of the November 23, 2009, issue of ''Newsweek'', with the caption "How do you Solve a Problem Like Sarah?" featuring an image of Palin in athletic attire and posing. Palin herself, the ''[[Los Angeles Times]]'' and other commentators accused ''Newsweek'' of [[sexism]] for their choice of cover in the November 23, 2009 issue discussing Palin's book, ''[[Going Rogue: An American Life]]''. "It's sexist as hell," wrote Lisa Richardson for the ''Los Angeles Times''.<ref>"[http://opinion.latimes.com/opinionla/2009/11/newsweeks-sexism-and-sarah-palin.html ''Newsweek''{{'s}} sexism and Sarah Palin] {{Webarchive|url=https://web.archive.org/web/20091121024019/http://opinion.latimes.com/opinionla/2009/11/newsweeks-sexism-and-sarah-palin.html |date=November 21, 2009 }}." ''[[Los Angeles Times]]''. November 17, 2009. Retrieved January 27, 2010.</ref> [[Taylor Marsh]] of ''[[The Huffington Post]]'' called it "the worst case of pictorial sexism aimed at political character assassination ever done by a traditional media outlet".<ref>Marsh, Taylor. "[https://www.huffingtonpost.com/taylor-marsh/what-was-newsweek-thinkin_b_362086.html What Was Newsweek Thinking?] {{Webarchive|url=https://web.archive.org/web/20091129222751/http://www.huffingtonpost.com/taylor-marsh/what-was-newsweek-thinkin_b_362086.html |date=November 29, 2009 }}" ''[[The Huffington Post]]''. November 18, 2009. Retrieved January 27, 2010.</ref> David Brody of [[CBN News]] stated: "This cover should be insulting to women politicians."<ref>Brody, David. "[http://blogs.cbn.com/thebrodyfile/archive/2009/11/16/newsweek-photo-of-palin-shows-media-bias-and-sexism.aspx Newsweek Photo of Palin Shows Media Bias and Sexism] {{Webarchive|url=https://web.archive.org/web/20091119025550/http://blogs.cbn.com/thebrodyfile/archive/2009/11/16/newsweek-photo-of-palin-shows-media-bias-and-sexism.aspx |date=November 19, 2009 }}." ''[[CBN News]]''. November 16, 2009. Retrieved January 27, 2010.</ref> The cover includes a photo of Palin used in the August 2009 issue of ''[[Runner's World]]''.<ref>Snead, Elizabeth. "[http://latimesblogs.latimes.com/thedishrag/2009/11/sarah-palin-hates-her-newsweek-cover-really-1.html Sarah Palin hates her 'sexist' Newsweek cover. Does she really?]" ''[[Zap2it]]''. November 17, 2009. Retrieved January 27, 2010. {{webarchive |url=https://web.archive.org/web/20091120175415/http://latimesblogs.latimes.com/thedishrag/2009/11/sarah-palin-hates-her-newsweek-cover-really-1.html |date=November 20, 2009 }}</ref><ref>Clift, Eleanor. "[http://blog.newsweek.com/blogs/thegaggle/archive/2009/11/16/payback-time-why-right-wing-men-rush-to-palin-s-defense.aspx Payback Time: Why Right-Wing Men Rush to Palin's Defense]." ''Newsweek''. Monday November 16, 2009. Retrieved January 27, 2010. {{webarchive |url=https://web.archive.org/web/20091119051635/http://blog.newsweek.com/blogs/thegaggle/archive/2009/11/16/payback-time-why-right-wing-men-rush-to-palin-s-defense.aspx |date=November 19, 2009 }}</ref><ref>"[https://news.yahoo.com/s/ynews/20091117/pl_ynews/ynews_pl984 Palin angered by 'sexist' Newsweek cover]." ''[[Yahoo! News]]''. November 17, 2009. Retrieved January 27, 2010. {{webarchive |url=https://web.archive.org/web/20091120195341/http://news.yahoo.com/s/ynews/20091117/pl_ynews/ynews_pl984 |date=November 20, 2009 }}</ref> The photographer may have breached his contract with ''Runner's World'' when he permitted its use in ''Newsweek'', as ''Runner's World'' maintained certain rights to the photo until August 2010. It is uncertain, however, whether this particular use of the photo was prohibited.<ref>Bercovici, Jeff. "[http://www.dailyfinance.com/story/media/palin-photographer-breached-contract-with-sale-to-newsweek/19244906/ Palin photographer breached contract with sale to Newsweek] {{Webarchive|url=https://web.archive.org/web/20100322201259/http://www.dailyfinance.com/story/media/palin-photographer-breached-contract-with-sale-to-newsweek/19244906/|date=March 22, 2010}}." ''[[Daily Finance]]''. November 18, 2009. Retrieved January 27, 2010.</ref>
Former Alaska Governor and 2008 Republican vice presidential nominee [[Sarah Palin]] was featured on the cover of the November 23, 2009, issue of ''Newsweek'', with the caption "How do you Solve a Problem Like Sarah?" featuring an image of Palin in athletic attire and posing. Palin herself, the ''[[Los Angeles Times]]'' and other commentators accused ''Newsweek'' of [[sexism]] for their choice of cover in the November 23, 2009 issue discussing Palin's book, ''[[Going Rogue: An American Life]]''. "It's sexist as hell," wrote Lisa Richardson for the ''Los Angeles Times''.<ref>{{Cite web|date=2009-11-17|title=Opinion: Newsweek's sexism and Sarah Palin|url=https://www.latimes.com/archives/blogs/opinion-la/story/2009-11-17/opinion-newsweeks-sexism-and-sarah-palin|access-date=2023-01-06|website=Los Angeles Times|language=en-US}}</ref> [[Taylor Marsh]] of ''[[The Huffington Post]]'' called it "the worst case of pictorial sexism aimed at political character assassination ever done by a traditional media outlet".<ref>{{Cite web|date=2010-03-18|title=What Was Newsweek Thinking? (updated)|url=https://www.huffpost.com/entry/what-was-newsweek-thinkin_b_362086|access-date=2023-01-06|website=HuffPost|language=en}}</ref> David Brody of [[CBN News]] stated: "This cover should be insulting to women politicians."<ref>{{Cite web|title=Latest Blog Posts &#124; CBN.com|url=https://www1.cbn.com/blogs|access-date=2023-01-06|website=CBN.com - The Christian Broadcasting Network|language=en}}</ref> The cover includes a photo of Palin used in the August 2009 issue of ''[[Runner's World]]''.<ref>{{Cite web|title=Archive blogs|url=https://www.latimes.com/archives/blogs/|access-date=2023-01-06|website=Los Angeles Times|language=en-US}}</ref><ref>Clift, Eleanor. "[http://blog.newsweek.com/blogs/thegaggle/archive/2009/11/16/payback-time-why-right-wing-men-rush-to-palin-s-defense.aspx Payback Time: Why Right-Wing Men Rush to Palin's Defense]." ''Newsweek''. Monday November 16, 2009. Retrieved January 27, 2010. {{webarchive |url=https://web.archive.org/web/20091119051635/http://blog.newsweek.com/blogs/thegaggle/archive/2009/11/16/payback-time-why-right-wing-men-rush-to-palin-s-defense.aspx |date=November 19, 2009 }}</ref><ref>"[https://news.yahoo.com/s/ynews/20091117/pl_ynews/ynews_pl984 Palin angered by 'sexist' Newsweek cover]." ''[[Yahoo! News]]''. November 17, 2009. Retrieved January 27, 2010. {{webarchive |url=https://web.archive.org/web/20091120195341/http://news.yahoo.com/s/ynews/20091117/pl_ynews/ynews_pl984 |date=November 20, 2009 }}</ref> The photographer may have breached his contract with ''Runner's World'' when he permitted its use in ''Newsweek'', as ''Runner's World'' maintained certain rights to the photo until August 2010. It is uncertain, however, whether this particular use of the photo was prohibited.<ref>{{Cite web|title=Stock Portfolio & Tracker - Yahoo Finance|url=https://finance.yahoo.com/portfolios/|access-date=2023-01-06|website=finance.yahoo.com|language=en-US}}</ref>


Minnesota Republican Congresswoman and presidential candidate [[Michele Bachmann]] was featured on the cover of ''Newsweek'' magazine in August 2011, dubbed "the Queen of Rage".<ref>{{cite web |url=http://www.politico.com/news/stories/0811/60941.html |title=Michele Bachmann's Newsweek outtakes – Maggie Haberman |work=Politico |access-date=December 25, 2012 |archive-url=https://web.archive.org/web/20121014110034/http://www.politico.com/news/stories/0811/60941.html |archive-date=October 14, 2012 |url-status=live }}</ref> The photo of her was perceived as unflattering, as it portrayed her with a wide eyed expression some said made her look "crazy".<ref>{{cite news |url=https://www.huffingtonpost.com/2011/08/08/newsweeks-michele-bachman_n_920860.html | work=[[HuffPost]] | first=Jack | last=Mirkinson | title=''Newsweek''{{'s}} Michele Bachmann Cover Raises Eyebrows (PHOTO, POLL) | date=August 8, 2011 | access-date=August 31, 2011 | archive-url=https://web.archive.org/web/20110929232012/http://www.huffingtonpost.com/2011/08/08/newsweeks-michele-bachman_n_920860.html | archive-date=September 29, 2011 | url-status=live }}</ref> Conservative commentator [[Michelle Malkin]] called the depiction "sexist",<ref>{{cite news|url=https://www.washingtonpost.com/blogs/blogpost/post/michele-bachmann-newsweek-cover/2011/08/08/gIQAPpUc2I_blog.html| newspaper=[[The Washington Post]]| date=August 9, 2011| title=Newsweek Michele Bachmann cover 'sexist' and in bad form?| access-date=September 6, 2017| archive-url=https://web.archive.org/web/20171014051815/https://www.washingtonpost.com/blogs/blogpost/post/michele-bachmann-newsweek-cover/2011/08/08/gIQAPpUc2I_blog.html| archive-date=October 14, 2017| url-status=live}}</ref> and Sarah Palin denounced the publication. ''Newsweek'' defended the cover's depiction of her, saying its other photos of Bachmann showed similar intensity.<ref>{{cite news |url=http://www.foxnews.com/politics/2011/08/09/bachmann-newsweek-cover-goes-for-insult-but-gets-criticism-in-return/ | publisher=Fox News | title=Bachmann Newsweek Cover Goes for Insult But Gets Criticism in Return | date=August 9, 2011 | access-date=August 31, 2011 | archive-url=https://web.archive.org/web/20110816035442/http://www.foxnews.com/politics/2011/08/09/bachmann-newsweek-cover-goes-for-insult-but-gets-criticism-in-return/ | archive-date=August 16, 2011 | url-status=live }}</ref>
Minnesota Republican Congresswoman and presidential candidate [[Michele Bachmann]] was featured on the cover of ''Newsweek'' magazine in August 2011, dubbed "the Queen of Rage".<ref>{{cite web |url=http://www.politico.com/news/stories/0811/60941.html |title=Michele Bachmann's Newsweek outtakes – Maggie Haberman |work=Politico |access-date=December 25, 2012 |archive-url=https://web.archive.org/web/20121014110034/http://www.politico.com/news/stories/0811/60941.html |archive-date=October 14, 2012 |url-status=live }}</ref> The photo of her was perceived as unflattering, as it portrayed her with a wide eyed expression some said made her look "crazy".<ref>{{cite news |url=https://www.huffingtonpost.com/2011/08/08/newsweeks-michele-bachman_n_920860.html | work=[[HuffPost]] | first=Jack | last=Mirkinson | title=''Newsweek''{{'s}} Michele Bachmann Cover Raises Eyebrows (PHOTO, POLL) | date=August 8, 2011 | access-date=August 31, 2011 | archive-url=https://web.archive.org/web/20110929232012/http://www.huffingtonpost.com/2011/08/08/newsweeks-michele-bachman_n_920860.html | archive-date=September 29, 2011 | url-status=live }}</ref> Conservative commentator [[Michelle Malkin]] called the depiction "sexist",<ref>{{cite news|url=https://www.washingtonpost.com/blogs/blogpost/post/michele-bachmann-newsweek-cover/2011/08/08/gIQAPpUc2I_blog.html| newspaper=[[The Washington Post]]| date=August 9, 2011| title=Newsweek Michele Bachmann cover 'sexist' and in bad form?| access-date=September 6, 2017| archive-url=https://web.archive.org/web/20171014051815/https://www.washingtonpost.com/blogs/blogpost/post/michele-bachmann-newsweek-cover/2011/08/08/gIQAPpUc2I_blog.html| archive-date=October 14, 2017| url-status=live}}</ref> and Sarah Palin denounced the publication. ''Newsweek'' defended the cover's depiction of her, saying its other photos of Bachmann showed similar intensity.<ref>{{cite news |url=http://www.foxnews.com/politics/2011/08/09/bachmann-newsweek-cover-goes-for-insult-but-gets-criticism-in-return/ | publisher=Fox News | title=Bachmann Newsweek Cover Goes for Insult But Gets Criticism in Return | date=August 9, 2011 | access-date=August 31, 2011 | archive-url=https://web.archive.org/web/20110816035442/http://www.foxnews.com/politics/2011/08/09/bachmann-newsweek-cover-goes-for-insult-but-gets-criticism-in-return/ | archive-date=August 16, 2011 | url-status=live }}</ref>
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===Other===
===Other===
[[Fareed Zakaria]], a ''Newsweek'' columnist and editor of ''Newsweek International'', attended a secret meeting on November 29, 2001, with a dozen policy makers, Middle East experts and members of influential policy research organizations that produced a report for President [[George W. Bush]] and his cabinet outlining a strategy for dealing with Afghanistan and the Middle East in the aftermath of [[September 11 attacks|September 11, 2001]]. The meeting was held at the request of [[Paul Wolfowitz|Paul D. Wolfowitz]], then the [[Deputy Secretary of Defense]]. The unusual presence of journalists, who also included [[Robert D. Kaplan]] of ''[[The Atlantic Monthly]]'', at such a strategy meeting was revealed in [[Bob Woodward]]'s 2006 book ''[[State of Denial: Bush at War, Part III]]''. Woodward reported in his book that, according to Kaplan, everyone at the meeting signed confidentiality agreements not to discuss what happened. Zakaria told ''[[The New York Times]]'' that he attended the meeting for several hours but did not recall being told that a report for the president would be produced.<ref name="NYT_Bosman">Julie Bosman. [https://www.nytimes.com/2006/10/09/business/media/09zakaria.html "Secret Iraq Meeting Included Journalists"] {{Webarchive|url=https://web.archive.org/web/20160722054437/http://www.nytimes.com/2006/10/09/business/media/09zakaria.html |date=July 22, 2016 }}. ''[[The New York Times]]''. October 9, 2006.</ref> On October 21, 2006, after verification, the ''Times'' published a correction that stated:
[[Fareed Zakaria]], a ''Newsweek'' columnist and editor of ''Newsweek International'', attended a secret meeting on November 29, 2001, with a dozen policy makers, Middle East experts and members of influential policy research organizations that produced a report for President [[George W. Bush]] and his cabinet outlining a strategy for dealing with Afghanistan and the Middle East in the aftermath of [[September 11 attacks|September 11, 2001]]. The meeting was held at the request of [[Paul Wolfowitz|Paul D. Wolfowitz]], then the [[Deputy Secretary of Defense]]. The unusual presence of journalists, who also included [[Robert D. Kaplan]] of ''[[The Atlantic Monthly]]'', at such a strategy meeting was revealed in [[Bob Woodward]]'s 2006 book ''[[State of Denial: Bush at War, Part III]]''. Woodward reported in his book that, according to Kaplan, everyone at the meeting signed confidentiality agreements not to discuss what happened. Zakaria told ''[[The New York Times]]'' that he attended the meeting for several hours but did not recall being told that a report for the president would be produced.<ref name="NYT_Bosman">{{Cite news|last=Bosman|first=Julie|date=2006-10-09|title=Secret Iraq Meeting Included Journalists|language=en-US|work=The New York Times|url=https://www.nytimes.com/2006/10/09/business/media/09zakaria.html|access-date=2023-01-06|issn=0362-4331}}</ref> On October 21, 2006, after verification, the ''Times'' published a correction that stated:
<blockquote>An article in Business Day on Oct. 9 about journalists who attended a secret meeting in November 2001 called by Paul D. Wolfowitz, then the deputy secretary of defense, referred incorrectly to the participation of Fareed Zakaria, the editor of ''Newsweek International'' and a ''Newsweek'' columnist. Mr. Zakaria was not told that the meeting would produce a report for the Bush administration, nor did his name appear on the report.<ref name="NYT_Bosman" /></blockquote>
<blockquote>An article in Business Day on Oct. 9 about journalists who attended a secret meeting in November 2001 called by Paul D. Wolfowitz, then the deputy secretary of defense, referred incorrectly to the participation of Fareed Zakaria, the editor of ''Newsweek International'' and a ''Newsweek'' columnist. Mr. Zakaria was not told that the meeting would produce a report for the Bush administration, nor did his name appear on the report.<ref name="NYT_Bosman" /></blockquote>



Revision as of 16:01, 6 January 2023

Newsweek
publisher
PublisherDev Pragad[4][5]
Total circulation
(2015)
100,000[6]
First issueFebruary 17, 1933; 91 years ago (1933-02-17)
Company
  • Independent (1933–61, 2018–present)
  • The Washington Post Company
    (1961–2010)
  • IAC
    (2010–13)
  • IBT Media (2013–18)
  • Newsweek Publishing LLC (2018–present)
CountryUnited States
Based in
OCLC
818916146

Newsweek is an American weekly online

The Washington Post Company
in 1961, and remained under its ownership until 2010.

Revenue declines prompted The Washington Post Company to sell it, in August 2010, to the audio pioneer

Newsweek continued to experience financial difficulties, which led to the cessation of print publication and a transition to an all-digital format at the end of 2012.

In 2013, IBT Media acquired Newsweek from IAC; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast.[11] IBT Media, which also owns the International Business Times, rebranded itself as Newsweek Media Group, and in 2014, relaunched Newsweek in both print and digital form.

In 2018, IBT Media split into two companies, Newsweek Publishing and IBT Media. The split was accomplished one day before the District Attorney of Manhattan indicted Etienne Uzac, the co-owner of IBT Media, on fraud charges.[12][13][14]

Under Newsweek's current co-owner and CEO, Dev Pragad, it is both profitable, with revenue of $60 million, and also growing: between May 2019 and May 2022, its monthly unique visitors increased from about 30 million to 48 million, according to Comscore.[7][15]

History

First issue of News-Week February 17, 1933

Founding and early years (1933–1961)

January 16, 1939, cover featuring Felix Frankfurter
May 8, 1944 WWII "Armed Forces Overseas Edition"

News-Week was launched in 1933 by

Andrew W. Mellon".[16]: 259 Paul Mellon's ownership in News-Week apparently represented "the first attempt of the Mellon family to function journalistically on a national scale".[16]: 260
  The group of original owners invested around US$2.5 million (equivalent to $58.84 million in 2023). Other large stockholders prior to 1946 were public utilities investment banker Stanley Childs and Wall Street corporate lawyer Wilton Lloyd-Smith.

Journalist Samuel T. Williamson served as the first editor-in-chief of News-Week. The first issue of the magazine was dated February 17, 1933. Seven photographs from the week's news were printed on the first issue's cover.[17]

In 1937 News-Week merged with the weekly journal Today, which had been founded in 1932 by future New York Governor and diplomat W. Averell Harriman, and Vincent Astor of the prominent Astor family. As a result of the deal, Harriman and Astor provided $600,000 (equivalent to $12,717,000 in 2023) in venture capital funds and Vincent Astor became both the chairman of the board and its principal stockholder between 1937 and his death in 1959.[citation needed]

In 1937 Malcolm Muir took over as president and editor-in-chief. He changed the name to Newsweek, emphasized interpretive stories, introduced signed columns, and launched international editions.[citation needed]

Under Post ownership (1961–2010)

The magazine was purchased by

The Washington Post Company in 1961.[18]

Osborn Elliott was named editor of Newsweek in 1961 and became the editor-in-chief in 1969.

March 1, 1976, story about SLA members Bill and Emily Harris

In 1970, Eleanor Holmes Norton represented sixty female employees of Newsweek who had filed a claim with the Equal Employment Opportunity Commission that Newsweek had a policy of allowing only men to be reporters.[19] The women won, and Newsweek agreed to allow women to be reporters.[19] The day the claim was filed, Newsweek's cover article was "Women in Revolt", covering the feminist movement; the article was written by a woman who had been hired on a freelance basis since there were no female reporters at the magazine.[20]

Edward Kosner became editor from 1975 to 1979 after directing the magazine's extensive coverage of the Watergate scandal that led to the resignation of President Richard Nixon in 1974.

ACT scores above 27 are excluded from the list; these are categorized instead as "Public Elite" High Schools. In 2008, there were 17 Public Elites.[22]

Smith resigned as board chairman in December 2007.[23]

Restructuring and new owner (2008–2010)

The first issue released after the magazine switched to an opinion and commentary format

During 2008—2009, Newsweek undertook a dramatic business restructuring.[24][25] Citing difficulties in competing with online news sources to provide unique news in a weekly publication, the magazine refocused its content on opinion and commentary beginning with its May 24, 2009, issue. It shrank its subscriber rate base, from 3.1 million to 2.6 million in early 2008, to 1.9 million in July 2009 and then to 1.5 million in January 2010—a decline of 50% in one year. Jon Meacham, Editor-in-chief from 2006 to 2010,[3] described his strategy as "counterintuitive" as it involved discouraging renewals and nearly doubling subscription prices as it sought a more affluent subscriber base for its advertisers.[26] During this period, the magazine also laid off staff. While advertising revenues were down almost 50% compared to the prior year, expenses were also diminished, whereby the publishers hoped Newsweek would return to profitability.[27]

The financial results for 2009 as reported by The Washington Post Company showed that advertising revenue for Newsweek was down 37% in 2009 and the magazine division reported an operating loss for 2009 of US$29.3 million (equivalent to $41.61 million in 2023) compared to a loss of US$16 million in 2008 (equivalent to $22.64 million in 2023).[28] During the first quarter of 2010, the magazine lost nearly US$11 million (equivalent to $15.37 million in 2023).[29]

By May 2010, Newsweek had been losing money for the past two years and was put up for sale.

Allen & Co.[31]

The magazine was sold to audio pioneer Sidney Harman on August 2, 2010 for US$1 in exchange for assuming the magazine's financial liabilities.[8][32] Harman's bid was accepted over three competitors.[33] Meacham left the magazine upon completion of the sale. Sidney Harman, a major contributor to Zionist causes, was the husband of Jane Harman, at that time a member of Congress from California.

Merger with The Daily Beast (2010–2013)

At the end of 2010, Newsweek merged with the online publication

IAC/InterActiveCorp and 50% by Harman.[9][10][34]

Redesign (2011)

Newsweek was redesigned in March 2011.[35] The new Newsweek moved the "Perspectives" section to the front of the magazine, where it served essentially as a highlight reel of the past week on The Daily Beast. More room was made available in the front of the magazine for columnists, editors, and special guests. A new "News Gallery" section featured two-page spreads of photographs from the week with a brief article accompanying each one. The "NewsBeast" section featured short articles, a brief interview with a newsmaker, and several graphs and charts for quick reading in the style of The Daily Beast. This is where the Newsweek staple "Conventional Wisdom" was located. Brown retained Newsweek's focus on in-depth, analytical features and original reporting on politics and world affairs, as well as a new focus on longer fashion and pop culture features. A larger culture section named "Omnivore" featured art, music, books, film, theater, food, travel, and television, including a weekly "Books" and "Want" section. The back page was reserved for a "My Favorite Mistake" column written by celebrity guest columnists about a mistake they made that helped shape who they are.[35]

Cessation of print format (2012)

The Newsweek Daily Beast Company
ownership

On July 25, 2012, the company operating Newsweek indicated the publication was likely to go digital to cover its losses and could undergo other changes by the next year. Barry Diller, chairman of the conglomerate IAC/InterActiveCorp, said his firm was looking at options since its partner in the Newsweek/Daily Beast operation had pulled out.[36]

At the end of 2012, the company discontinued the American print edition after 80 years of publication, citing the increasing difficulty of maintaining a paper weekly magazine in the face of declining advertising and subscription revenues and increasing costs for print production and distribution.[37] The online edition is named Newsweek Global.[38]

Spin-off to IBT Media, return to print (2013–2018)

In April 2013, IAC chairman and founder Barry Diller stated at the Milken Global Conference that he "wished he hadn't bought" Newsweek because his company had lost money on the magazine and called the purchase a "mistake" and a "fool's errand".[39]

On August 3, 2013, IBT Media acquired Newsweek from IAC on terms that were not disclosed; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast.[11]

On March 7, 2014, IBT Media relaunched a print edition of Newsweek[40] with a cover story on the alleged creator of Bitcoin, which was widely criticized for its lack of substantive evidence. The magazine stood by its story.[41]

IBT Media announces that the publication returned to profitability on October 8, 2014.[42]

In February 2017, IBT Media appointed Matt McAllester, then editor of Newsweek International, as global editor-in-chief of Newsweek.[43]

In January 2018, Newsweek offices were raided by the

Manhattan District Attorney's office as part of an investigation into co-owner and founder, Etienne Uzac. Columbia Journalism Review noted the probe "focused on loans the company took out to purchase the computer equipment",[44] and several Newsweek reporters were fired after reporting on the issue. Uzac pleaded guilty to fraud and money-laundering in 2020.[45]

Newsweek Publishing LLC (2018–present)

In September 2018, after completing the strategic structural changes introduced in March of the same year, IBT Media spun off Newsweek into its own entity, Newsweek Publishing LLC, with co-ownership to Dev Pragad and Johnathan Davis of IBT Media.[46][14] Under current co-owner and CEO Dev Pragad, Newsweek has made improvements and the company is growing and profitable. According to a profile in Management Today, Dev Pragad has spent the past five years leading a remarkable transformation at Newsweek. Profits have been growing healthily since 2018, and the company is without debt for the first time in decades.[47]

In 2020, Newsweek's website hit 100 million unique monthly readers, up from seven million at the start of 2017.[47] In 2021, its revenues doubled to $60 million and traffic increased to 48 million monthly unique visitors in May 2022 from about 30 million in May 2019 according to Comscore.[7][15] Dev Pragad was recently profiled in The CEO Magazine regarding the publications turnaround, which was also the subject of a Harvard Business School case study. The case focuses on the challenges Dev Pragad and Newsweek's digital transformation and the actions of its leadership team to turn it into a successful, long-term business.[48]

Circulation and branches

In 2003, worldwide circulation was more than 4 million, including 2.7 million in the U.S; by 2010 it reduced to 1.5 million (with newsstand sales declining to just over 40,000 copies per week). Newsweek publishes editions in Japanese, Korean, Polish, Romanian, Spanish,

Arabic, Turkish, Serbian, as well as an English-language Newsweek International. Russian Newsweek, published since 2004, was shut in October 2010.[49] The Bulletin
(an Australian weekly until 2008) incorporated an international news section from Newsweek.

Based in New York City, the magazine claimed 22 bureaus in 2011: nine in the U.S.: New York City, Los Angeles, Chicago/Detroit, Dallas, Miami, Washington, D.C., Boston and San Francisco, and others overseas in London, Paris, Berlin, Moscow, Jerusalem, Baghdad, Tokyo, Hong Kong, Beijing, South Asia, Cape Town, Mexico City and Buenos Aires.[citation needed]

According to a 2015 column in the New York Post, after returning to print publication, Newsweek was selling c. 100,000 copies per month, with staff at that time numbering "about 60 editorial staffers", up from a low of "less than 30 editorial staffers" in 2013, but with plans then to grow the number to "close to 100 in the next year".[6]

Controversies

Allegations of sexism

In 1970, Eleanor Holmes Norton represented sixty female employees of Newsweek who had filed a claim with the Equal Employment Opportunity Commission that Newsweek had a policy of allowing only men to be reporters.[19] The women won, and Newsweek agreed to allow women to be reporters.[19] The day the claim was filed, Newsweek's cover article was "Women in Revolt", covering the feminist movement; the article was written by Helen Dudar, a freelancer, in the belief that there were no female writers at the magazine capable of handling the assignment. Those passed over included Elizabeth Peer, who had spent five years in Paris as a foreign correspondent.[50]

The 1986 cover of Newsweek featured an article that said "women who weren't married by 40 had a better chance of being killed by a terrorist than of finding a husband".

sheng nu.[51]

Controversial Newsweek cover, November 23, 2009, issue

Former Alaska Governor and 2008 Republican vice presidential nominee

CBN News stated: "This cover should be insulting to women politicians."[57] The cover includes a photo of Palin used in the August 2009 issue of Runner's World.[58][59][60] The photographer may have breached his contract with Runner's World when he permitted its use in Newsweek, as Runner's World maintained certain rights to the photo until August 2010. It is uncertain, however, whether this particular use of the photo was prohibited.[61]

Minnesota Republican Congresswoman and presidential candidate Michele Bachmann was featured on the cover of Newsweek magazine in August 2011, dubbed "the Queen of Rage".[62] The photo of her was perceived as unflattering, as it portrayed her with a wide eyed expression some said made her look "crazy".[63] Conservative commentator Michelle Malkin called the depiction "sexist",[64] and Sarah Palin denounced the publication. Newsweek defended the cover's depiction of her, saying its other photos of Bachmann showed similar intensity.[65]

Factual errors

Unlike most large American magazines, Newsweek has not used fact-checkers since 1996. In 1997, the magazine was forced to recall several hundred thousand copies of a special issue called Your Child, which advised that infants as young as five months old could safely feed themselves zwieback toasts and chunks of raw carrot (to the contrary, both represent a choking hazard in children this young). The error was later attributed to a copy editor who was working on two stories at the same time.[66]

In 2017, Newsweek published a story claiming that the First Lady of Poland refused to shake U.S. President Donald Trump's hand; Snopes described the assertion as "false".[67] Newsweek corrected its story.[67]

In 2018, Newsweek ran a story asserting that President Trump had wrongly colored the American flag while visiting a classroom; Snopes was unable to corroborate the photographic evidence.[68]

In August 2018, Newsweek falsely reported that the Sweden Democrats, a far-right party, could win a majority in the 2018 Swedish parliamentary elections. Polls showed that the party was far away from winning a majority. By September 2018, Newsweek's inaccurate article was still up.[69]

Newsweek journalists have expressed criticism of the editorial quality of its reporting since its change in ownership in 2013. In 2018, former Newsweek journalist Jonathan Alter wrote in The Atlantic that since being sold to the International Business Times in 2013 the magazine had "produced some strong journalism and plenty of clickbait before becoming a painful embarrassment to anyone who toiled there in its golden age".[70] Former Newsweek writer Matthew Cooper criticized Newsweek for running multiple inaccurate stories in 2018.[71]

In November 2022, during the Mahsa Amini protests in Iran, Newsweek incorrectly reported that Iran had ordered the execution of over 15,000 protesters. The claim was widely shared on social media, including by actresses Trudie Styler, Sophie Turner and Viola Davis, and Canadian prime minister Justin Trudeau. The number was actually derived from estimates from a United Nations human rights rapporteur and other human rights organizations of how many people were detained in Iran in connection with the protests, and Newsweek retracted the underlying claim leading to the inference that the people faced a death sentence.[72][73]

2018 investigation and firings

The

Manhattan District Attorney's office raided Newsweek's headquarters in Lower Manhattan on January 18, 2018, and seized 18 computer servers as part of an investigation related to the company's finances.[13] IBT, which owned Newsweek at the time, had been under scrutiny for its ties to David Jang,[13] a South Korean pastor and the leader of a Christian sect called "the Community".[74] In February 2018, under IBT ownership, several Newsweek staff were fired and some resigned stating that management had tried to interfere in articles about the investigations.[13][75][76]

Other

State of Denial: Bush at War, Part III. Woodward reported in his book that, according to Kaplan, everyone at the meeting signed confidentiality agreements not to discuss what happened. Zakaria told The New York Times that he attended the meeting for several hours but did not recall being told that a report for the president would be produced.[77]
On October 21, 2006, after verification, the Times published a correction that stated:

An article in Business Day on Oct. 9 about journalists who attended a secret meeting in November 2001 called by Paul D. Wolfowitz, then the deputy secretary of defense, referred incorrectly to the participation of Fareed Zakaria, the editor of Newsweek International and a Newsweek columnist. Mr. Zakaria was not told that the meeting would produce a report for the Bush administration, nor did his name appear on the report.[77]

The cover story of the January 15, 2015, issue, titled "What Silicon Valley Thinks of Women" proved controversial, due to both its illustration, described as "the cartoon of a faceless female in spiky red heels, having her dress lifted up by a

Today Show co-host Tamron Hall, who commented "I think it's obscene and just despicable, honestly." Newsweek editor-in-chief James Impoco explained "We came up with an image that we felt represented what that story said about Silicon Valley ... If people get angry, they should be angry."[79] The article's author, Nina Burleigh, asked, "Where were all these offended people when women like Heidi Roizen published accounts of having a venture capitalist stick her hand in his pants under a table while a deal was being discussed?"[80]

In January 1998, Newsweek reporter Michael Isikoff was the first reporter to investigate allegations of a sexual relationship between U.S. President Bill Clinton and Monica Lewinsky, but the editors spiked the story.[81] The story soon surfaced online in the Drudge Report.

In the

2008 U.S. presidential election, the John McCain campaign wrote a lengthy letter to the editor criticizing a cover story in May 2008.[82]

In December 2019, journalist Tareq Haddad said he resigned from Newsweek when it refused to publish his story about documents published by WikiLeaks concerning the Organisation for the Prohibition of Chemical Weapons' report into the 2018 Douma chemical attack. Haddad said his information was inconvenient to the U.S. government which had retaliated after the chemical attack. A Newsweek spokesperson responded that Haddad "pitched a conspiracy theory rather than an idea for objective reporting. Newsweek editors rejected the pitch."[83]

In September 2022, Recorder published an investigation on press financing in Romania by the political parties in government. In the investigation, the director of Newsweek Romania(Sabin Orcan) has been accused of being paid 8000€ per month (3000€ by PSD and 5000€ by PNL[84]) to publish positive news about the government.[85] After the publication of the investigation, Newsweek Romania published a large series of articles to denigrate the Recorder investigation.[86] Newsweek Romania is not owned by Newsweek Publishing but is a license of the brand platform

Contributors and staff members

Notable contributors or employees have included:

Those who held the positions of president, chairman, or publisher under The Washington Post Company ownership include:

See also

References

  1. from the original on 16 January 2022. Retrieved 7 July 2022. On Tuesday, Nancy Cooper, interim editor of Newsweek, was given the job permanently, the company said. Cooper had moved over from her job as editor of International Business Times after the NMG fired Newsweek editor Bob Roe, executive editor Ken Li and investigative reporter Celeste Katz for investigating a story on NMG's possible financial ties to Olivet University, a small San Francisco Bible college founded by followers of controversial South Korean cleric Rev. David Jang.
  2. OCLC 3638237. Archived from the original
    on 10 October 2008. Retrieved 26 October 2008. Elliott became editor in chief in 1969 and within three years took on the additional roles of president, chief executive and chairman.
  3. ^ a b "Jon Meacham | About". Jon Meacham. n.d. Archived from the original on 27 March 2022. Retrieved 7 July 2022. After serving as Managing Editor of Newsweek for eight years, Meacham was the Editor of the magazine from 2006 to 2010.
  4. ^ Pragad, Dev (n.d.). "Participant Stories | Benefitting from Time in a Virtual World". Executive Education Program | Participant Stories (Interview). Harvard Business School. Archived from the original on 5 July 2022. Retrieved 7 July 2022. As the CEO of Newsweek, Dev Pragad was looking to equip himself with the tools required to take his company to the next level and expand his own leadership skills.
  5. ^ "Leading in Media: Transforming Newsweek". Calendar | Event Series. King's College London. 4 December 2019. Archived from the original on 5 July 2022. Retrieved 7 July 2022. His success saw him acquire the license to publish Newsweek International edition from London between 2014 and 2016. His business acumen lead to the eventual acquisition of the US business of Newsweek in 2016, which was completed in 2018 with him becoming a majority owner of the Newsweek publication.
  6. ^ from the original on 26 June 2022. Retrieved 7 July 2022. The circulation is still small. Impoco put it at just "over 100,000."
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    OL 6360759M. Retrieved 8 July 2022 – via Internet Archive
    . p. 259: After losing a good deal of money with this early partisan of the New Deal, which subsequently reversed policy, Harriman and Astor bought a large interest early in 1937 in News-Week. There they joined a group of other important stockholders, which included Ward Cheney, of the Cheney silk family, John Hay Whitney, and Paul Mellon, son of Andrew W. Mellon.
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  26. from the original on 7 July 2022. Retrieved 7 July 2022. Jon Meacham admits it is hard to explain, even to his own people, why chopping Newsweek's circulation in half is a good thing. [...] "It's hugely counterintuitive," the magazine's editor says. "The staff doesn't understand it."
  27. . Retrieved January 6, 2023.
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