What is Newsweek Magazine and Its Journey Through Format and Ownership

Newsweek Magazine has a rich history that spans over 85 years, with its first issue published in 1933. Founded by Thomas J.C. Martyn, it was initially called The New Republic Weekly and later renamed to News-Week in 1937.

Newsweek's early success was due in part to its innovative format, which included a mix of news, politics, and culture. The magazine's first editor, Thomas J.C. Martyn, was known for his bold and provocative approach to journalism.

Newsweek's ownership has changed hands several times over the years, with the magazine being sold to The Washington Post Company in 1961.

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Newsweek has a rich history that spans over 80 years. Founded in 1933 by Thomas J.C. Martyn, it was initially called The News-Week and was published as a weekly newspaper.

The first issue of Newsweek was released on February 17, 1933, with a circulation of 17,000 copies. It was initially focused on covering international news and events.

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Newsweek gained popularity in the 1940s and 1950s, becoming a leading source of news and analysis. Its circulation increased significantly during this period.

In 1961, Newsweek began to shift its focus towards more in-depth analysis and commentary. This move helped the magazine to stand out from other news publications.

The magazine continued to evolve and adapt to changing times, introducing new sections and features to keep its readers engaged.

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Newsweek magazine has had a few significant changes in ownership over the years. The Washington Post Company purchased Newsweek in 1961. This marked the beginning of a new era for the magazine.

In 1970, Newsweek faced a lawsuit from female employees who claimed the magazine had a policy of only allowing men to be reporters. The women won the suit with the support of the ACLU, and Newsweek agreed to let women become reporters. This was a significant step forward for the magazine's diversity.

Newsweek's ownership changed again in 2010, when the magazine merged with The Daily Beast. The new entity, The Newsweek Daily Beast Company, was 50% owned by IAC/InterActiveCorp and 50% by Harman.

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The Washington Post Company purchased Newsweek in 1961, marking the beginning of their ownership. Osborn Elliott was named editor of Newsweek in 1961 and went on to become the editor-in-chief in 1969.

In 1970, a landmark case was brought against Newsweek by sixty female employees who claimed the magazine had a policy of only hiring men as reporters. The women, backed by the American Civil Liberties Union, won the suit and Newsweek agreed to hire female reporters.

Newsweek's cover article on May 18, 1970, was "Women in Revolt", which coincidentally covered the feminist movement, but was written by a woman who had been hired on a freelance basis.

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In 2010, Newsweek merged with The Daily Beast, a move that marked a significant shift in the publication's ownership and operations.

Tina Brown, The Daily Beast's editor-in-chief, took on a dual role as editor of both publications.

The new entity, The Newsweek Daily Beast Company, was formed as a result of the merger, with IAC/InterActiveCorp and Harman owning 50% each.

This partnership brought together two major players in the media industry, paving the way for a new era in journalism.

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Newsweek Magazine has undergone significant format changes over the years. In 2012, the company operating Newsweek decided to go digital to cover its losses and could undergo other changes by the next year.

The American print edition was discontinued at the end of 2012 after 80 years of publication. This decision was made due to declining advertising and subscription revenues, as well as increasing costs for print production and distribution.

The online edition was renamed Newsweek Global, marking a shift towards digital content.

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In 2012, the company operating Newsweek decided to cease its print format. This decision was made to address the publication's financial difficulties.

Declining advertising and subscription revenues, coupled with increasing costs for print production and distribution, made it hard to maintain a paper weekly magazine. Newsweek's print edition had been in publication for 80 years.

The company's chairman, Barry Diller, was looking at options to revamp the publication, including going digital. This move aimed to help the publication cover its losses.

The online edition was subsequently renamed Newsweek Global, marking the end of the American print edition.

In April 2013, IAC chairman Barry Diller regretfully described buying Newsweek as a "mistake" and a "fool's errand".

The magazine changed hands in August 2013, when IBT Media acquired Newsweek from IAC.

IBT Media relaunched a print edition of Newsweek on March 7, 2014, with a cover story on the alleged creator of Bitcoin, despite criticism for lacking evidence.

The magazine stood by its story, and IBT Media announced on October 8, 2014, that Newsweek had returned to profitability.

Matt McAllester was appointed global editor-in-chief of Newsweek in February 2017, taking over from his role as editor of Newsweek International.

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In 2013, Newsweek was acquired by IBT Media from IAC, a company founded by Barry Diller, who later regretted the purchase.

The acquisition included the Newsweek brand and its online publication, but not The Daily Beast. This marked a significant shift for the magazine.

IBT Media relaunched a print edition of Newsweek in 2014, with a cover story on the alleged creator of Bitcoin that was criticized for lacking evidence.

The magazine stood by its story, and IBT Media announced that Newsweek returned to profitability in October 2014.

Matt McAllester, then editor of Newsweek International, was appointed global editor-in-chief of Newsweek in February 2017.

However, Newsweek's success was short-lived, as its offices were raided by the Manhattan District Attorney's office in January 2018 as part of an investigation into co-owner Etienne Uzac.