Reports: Newsweek Employees Await Buyouts
Between financial instability and a change in ownership, Newsweek has lost a number of its top journalists over the past year. But now talk is spreading that future publishing partner The Daily Beast plans to further gut the staff by offering buyouts.
Newsweek owner Sidney Harman agreed late last year to merge with the IAC-backed news and commentary site in a joint venture. The deal hasn’t closed yet, and it’s not clear when it will.
But Beast founder and former Vanity Fair and Talk editor Tina Brown, who has been named editor of the merged company, is already making her mark on Newsweek, ordering up stories and quietly making new hires, leading some there to feel like the union is more a takeover than a merger.
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