NewsBeast's Lost $30 Million Last Year...Will Staff Cuts Follow?
The Daily Beast might be on track to be profitable this year, but the Newsweek part of the NewsBeast combo isn’t looking as good: Newsweek is estimated to have lost $20 million this year. So getting the combined Newsbeast into profitability by 2013, which owner Barry Diller says is possible, will be a “daunting” task, says Adweek’s Lucia Moses.
Newsweek is using some non-confidence-inspiring tactics in an effort to shore up readership: providing what are known as post-expiration copies, or grace copies, for example.
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