Daily Beast to Lose $12 Million This Year

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By Chris O'Shea Comment

Now that IAC has sold off Newsweek, what does the future hold for The Daily Beast and Tina Brown? The Daily Beast might one day disappear because — according to Adweek — it’s currently on pace to lose $12 million this year. That’s not likely to inspire much confidence in Barry Diller, who famously called buying Newsweek “a mistake.

As for Brown, Adweek guesses she’ll either stay at The Daily Beast, shift her focus to the Women in The World Summit, or maybe take some time off to finish her book on Hillary Clinton. In other words, no one has any idea what the hell Brown will do next.

At least Brown still has some support. David Remnick, The New Yorker’s editor-in-chief, told Adweek that he is “always rooting for her.”