Daily Beast/Newsweek Merger Due Friday: Repor
The Daily Beast and Newsweek will announce on Friday morning that they have agreed to a 50-50 merger, with Beast founder Tina Brown serving as editor of both the website and the magazine, according to a report by the New York Observer.
The Observer, citing a source close to the deal, reported that the agreement reached by Newsweek owner Sidney Harman and Barry Diller, chairman of Beast parent IAC, “establishes a daily role for Mr. Harman and strong editorial independence for Ms. Brown.” The Observer story is by reporter Nick Summers, who worked for Newsweek until Oct. 29.