11/12/10

Newsy Merger of Some Interest

The Daily Beast and Newsweek are merging:
What does this exciting new media marriage mean? 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.
It’s a wonderful new opportunity for all the brilliant editors and writers at The Daily Beast who have worked so hard to create the site’s success. Working at the warp-speed of a 24/7 news operation, we now add the versatility of being able to develop ideas and investigations that require a different narrative pace suited to the medium of print. And for Newsweek, The Daily Beast is a thriving frontline of breaking news and commentary that will raise the profile of the magazine’s bylines and quicken the pace of a great magazine’s revival. I'm impressed with how Newsweek's outstanding staff has continued to put out a lively, well-informed magazine after the departure of their tireless editor, Jon Meacham.
I don't really get it. Does The Daily Beast  really need " the versatility of being able to develop ideas and investigations that require a different narrative pace suited to the medium of print"? What about being a website stops you from doing that? Will newsweek.com just route to The Daily Beast now, or is will it be something different? I don't see the synergy here, just a faint hope that Tina Brown can do something that Jon Meacham couldn't- make a weekly newsmagazine seem vital and important in an era that moves way too fast for a weekly. Um, good luck. The biggest question though: should we call it News Beast or Daily Week?

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