Tina Brown has confirmed that her US-based news website the Daily Beast is to merge with venerable news magazine Newsweek.
Brown launched the Beast in October 2008 to take on successful US news websites like the Huffington Post and the Drudge Report.
“It means that The Daily Beast’s animal high spirits will now be teamed with a legendary, weekly print magazine in a joint venture, named The Newsweek Daily Beast Company, owned equally by Barry Diller’s IAC and Sidney Harman, owner (and savior) of Newsweek.
“As for me, I shall now be in the editor-in-chief’s chair at both The Daily Beast and Newsweek, bringing with us as CEO my Daily Beast business partner Stephen Colvin, who launched The Week Magazine in the U.S., as well as Maxim, as president of Dennis Publishing. His dynamism has created 66 new ad campaigns for us since I persuaded him to join The Daily Beast a year ago.”