It has been nearly three full months since Newsweek and The Daily Beast verified all the rumors and agreed to merge — today their deal has finally been signed, sealed, and delivered. Although some speculated that the new media conglomerate would simply be coined “Newsbeast,” the company went with a more conservative title and will be known as The Newsweek/Daily Beast Company LLC. As expected, Tina Brown will serve as the title’s editor-in-chief, while IAC chairman Barry Diller and Newsweek owner Sidney Harman are both directors. Harman has also been named executive chairman of the new entity. Former Daily Beast president Stephen Colvin will act as The Newsweek/Daily Beast’s CEO.
Harman is glad to have all the paperwork completed and ready to get the show on the road.
This is an exciting undertaking. We are convinced that the combination of Newsweek and The Daily Beast will extend the frontiers of read and heard news opinion. Making the complex weekly news both comprehensive and comprehensible will be our mission.