Tina Brown spins ‘Newsweek’ bombshell on talk shows; Barry Diller not so much

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Barry Diller and Tina Brown: all bold plunges and 'mistakes.' ()
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Tina Brown hit the morning shows today to spin yesterday's big news about Newsweek's print edition shutting down and being replaced at the end of the year by a subscription-based digital-only title called Newsweek Global.

"We just decided to take the plunge," she said on MSNBC's "Morning Joe."

"We decided that we wanted to embrace the future and not try anymore talk about the legacies of the past. It costs $43 million to print, manufacture, distribute, manage the distribution of Newsweek before you can even hire one writer or one editor. And that is just the most enormous millstone to deal with in a era where people are telling us more and more it's all about screens."

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That said, Brown did acknowledge the more somber reality that the digital transition is going to mean laying off a yet-to-be-determined portion of her staff.

You can watch the full "Morning Joe" clip below.

Visit NBCNews.com for breaking news, world news, and news about the economy

Meanwhile, Barry Diller, chairman of Newsweek's parent company, IAC, was a bit more blunt in his assessment of the situation to The New York Times: “It was a mistake to take this one on.”

In other news...

Sports Illustrated has a new QB. [New York Post]

The Wrap has been warned not to poach talent from Deadline. [LA Observed]

Online ad revenue to overtake print. [Poynter]

In which Tom Hanks drops as F-bomb on "Good Morning America." [HuffPost]

W has a new publisher. [W.W.D.]

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