Newsweek‘s owners are contemplating moving the weekly publication to a digital-only format, according to a report from The Guardian. Chairman of IAC/InteractiveCorp Barry Diller told analysts during a conference call that a problem with the weekly was the cost of “manufacturing”.
“I’m not saying it will happen totally, but the transition to online from hard print will take place. We’re examining all of our options”, he said. A new plan for Newsweek will apparently be in place some time between October and early next year.
Newsweek‘s editor-in-chief Tina Brown reassured staff on the publication following Diller’s comments, saying in a memo: “Barry Diller would like to make it clear that he did not say on the earnings call as reported that Newsweek is going digital in September. He made the uncontroversial, industry-wide observation that print is moving in the direction of digital.”
Source: The Guardian