Barry Diller isn’t done regretting the ‘Newsweek’ episode yet

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Barry Diller. ()
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Barry Diller, chief of the multimedia clonglomerate IAC, has already said he thinks that his company's purchase of Newsweek as a companion brand to Tina Brown's Daily Beast was a mistake.

But what he hadn't yet done until today is suggest that the latest incarnation of the magazine, a tablet-only publication that replaced the weekly print edition after it was shuttered in December, is probably a bust too.

“I do not have great expectations," said Diller in an interview this afternoon with Bloomberg TV.

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"I wish I had not bought Newsweek," he said. "It was a mistake."

Probably not the most comforting words for Newsweek's already demoralized staff.

Scroll down to watch the full clip.

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The Economist is targetting the college crowd. [The New York Times]

Michael Wolff on The New York Times Book Review's "retirement plan." [The Guardian]

The "secret-tape" special sauce of Mother Jones. [Businessweek]

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Here's Diller's "my bad" on Newsweek, starting around the 5:45 mark:

From our inbox...

Atlantic Media's Quartz now has more than 2 million readers and a new design:

Quartz (QZ.com) is launching a re-design to its desktop and tablet experiences, it was announced today by Quartz Editor-in-Chief Kevin J. Delaney. Quartz was designed with the reader in mind, and this evolution will improve the site’s navigation and make the user experience even better.

Changes to the site include:

The header at the top of Quartz is now smaller, more efficient, and clearly labeled.
Editorial “Obsessions”—the important global business themes Quartz’s journalists are focused on—are now more prominent and clearly labeled in the navigation.
The black bar on the left side of the interface is now gone, making the design even cleaner.

The site reached a new traffic high with over two million unique visitors (Omniture) for the month of April. Quartz launched in the fall of 2012 and has seen steady growth for the last six with 40% of readers coming from outside the US including Canada, the UK, India, Australia, and Germany.

“Readers are responding to the smart global coverage we do everyday, and sharing it with others on the web,” said Delaney. “They’re coming to us for creative analysis of the news, original reporting, data visualizations and unique commentary. Our goal with the latest site changes is to let the stories shine even more for readers, and simplify everything else.”

As part of their continuing discussion about the most important issues for global business people, Quartz’s journalists have made changes to the site’s “Obsessions” so that they now include: Mobile Web, Future of Finance, Internet of Everything, China’s Transition, How We Buy, Debt, Borders, US Immigration, Space Business, and Abenomics. The “Obsessions” of the staff will help define a significant portion of Quartz’s coverage, and will change over time with global developments and news.

“The reactions we are seeing to Quartz on Twitter and in emails we receive is almost embarrassingly effusive,” said Jay Lauf, SVP & Group Publisher, Atlantic Media. “Clearly Kevin and his team are delivering a really special product and the ad integrations we’ve delivered for companies as disparate as Boeing, KPMG, and Ralph Lauren have been similarly praised.”

Last month, Quartz released an updated interface for its mobile experience as well. This includes more intuitive navigation, a cleaner design, and offline support so readers can take Quartz anywhere even when not connected to the Internet. The site uses HTML5 technology and a responsive design approach so it’s easy for readers to access it using whatever device is at hand. Quartz recently won first place for Design at the 2013 Digiday Digital Publishing awards.