Tina Brown spins 'Newsweek' bombshell on talk shows; Barry Diller not so much
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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."
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.
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.]
From our inbox...
The Wall Street Journal is promoting its new weekly real estate section with free cab rides:
The Wall Street Journal is sponsoring free taxi rides within New York City today, Friday, October 19, to celebrate the recent launch of Mansion, the Journal’s new weekly section covering the global luxury real estate market. The taxis will run from 11 a.m. to 3 p.m. within the borough of Manhattan and will be located for pick-up on the west side of Broadway between West 52rd and West 53rd Street.
Mansion appears in The Wall Street Journal every Friday as a stand-alone section in the in the U.S., with select content appearing each week in the Journal’s Europe and Asia editions. Along with features and coverage on WSJ.com, all Mansion content is also available via the Journal’s universal app for iPhone and iPad.