Morning Media Newsfeed: Newsweek for Sale | News Corp Cuts Coming | De Rosa Joins Circa

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IAC Seeking Buyers for Newsweek (Variety)
Newsweek appears to be on the block — again. According to sources who have been briefed, IAC is sending out inquiries to prospective buyers who may be interested in purchasing the 80-year-old title, which ended weekly publication of its domestic edition late last year in favor of a digital-only format. A revamped Newsweek.com launched earlier this month. Adweek At this point, Newsweek’s decline and predicted demise are well-trod ground. The once-venerable Newsweek used to have a circulation topping 3 million, but had fallen to less than half of that when it went digital-only this year. The move would save IAC money and enable Newsweek to make good on the copies it owed subscribers (Newsweek carried a $30 million circulation liability), but no one in their right mind expected a paid, digital magazine to be a viable option. Politico / Dylan Byers on Media In April, Diller said he regretted buying the magazine. “‘I wish I hadn’t bought Newsweek, it was a mistake,” he told Bloomberg TV. He also said he did not have “great expectations” for the digital version, which, like The Daily Beast, is edited by Tina Brown.

News Corp Promises ‘Relentless’ Cuts at Newspapers (Reuters)
Robert Thomson, chief executive of the new News Corp, said there will be “relentless” cost cuts in store for the newspaper business as it prepares to separate from Rupert Murdoch’s entertainment empire. The cornerstone of the company will be its balance sheet — more than $2 billion in cash — to buffer the company and appease investors in the long term. The new News Corp, as it will be known on June 28, will be “relentless” in cost cutting, said Thomson, who remained bullish about the business. JimRomenesko.com News Corp publishing group CEO Robert Thomson, in a memo: “Today we are unveiling a new logo that will be our emblem for this future. The name is historic and the script is based on the writing of Rupert and his father, who have provided us all with not only a name, but a remarkable professional platform.” FishbowlNY News Corp has decided that with the split fast approaching, it was time for a new logo.

Circa Hires Anthony De Rosa Away From Thomson Reuters to Expand Its Editorial Ambitions (paidContent)
Circa, the San Francisco-based startup that creates news summaries for mobile users, says it has hired Thomson Reuters social media editor Anthony De Rosa as its new editor-in-chief to expand its journalistic reach. Circa co-founder and CEO Matt Galligan said in an interview before the announcement that De Rosa will be building out the company’s editorial team, which will be based in New York rather than San Francisco, where the rest of the startup is headquartered. Circa Blog Anthony De Rosa: “There’s a huge opportunity to present news in a way that’s made for mobile. Nobody is thinking about this more than Circa and I’m thrilled to help move that mission forward. Matt and David have a proven record of success and I feel like we have a shared vision for transforming the traditional article format.” FishbowlNY Circa is a startup that offers news summaries for smartphones. 10,000 Words De Rosa will be joining a team of 12 editors who are situated all across the globe. The company is currently working on version 2.0 of its iPhone app and expected to release an Android app to be released in the fall.

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U-T Ends Publishing The Californian Section (U-T San Diego)
U-T San Diego announced Tuesday that it will no longer publish The Californian, a daily section that covered Temecula and southern Riverside County. When the U-T acquired The North County Times in September 2012 from Lee Enterprises for $11.95 million, The Californian was part of the deal. FishbowlLA Meanwhile, according to the Twitter feed of 1090 AM Sportsradio San Diego morning host Lee Hacksaw Hamilton, who kept a close watch on developments he dubs “Black Tuesday,” there were also layoffs today at the U-T San Diego end.