IAC Takes Control of Newsweek/The Daily Beast

According to Reuters, the family of the late Sidney Harman has stopped investing in Newsweek/The Daily Beast. Since IAC continues to subsidize the venture, its 50 percent interest is now a controlling stake.

The family decided to stop giving to Newsweek/The Daily Beast because it wanted to cap contributions, but wouldn’t say what that number was.

The Harman’s family’s statement to Reuters:

The Harman family remains supportive partners in the business of Newsweek Daily Beast, including service on the Board by Jane Harman and family participation in various informal roles. However,

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in