Newsweek will eventually transition to an online publication, owner IAC/InterActiveCorp said, marking the beginning of the end for the money-losing magazine’s 79-year run as a print weekly.
IAC chairman Barry Diller made the announcement during a quarterly conference call, saying the New York-based company aims to curb investments in the business. Newsweek is projected to lose as much as $22 million this year, according to a person with direct knowledge of the...
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