The last decade of Newsweek’s 81-year run has been pretty tumultuous as it's been handed down to various owners, taken in and out of print and nearly shuttered.
Since IAC's Barry Diller and star editor Tina Brown's strategy to take the brand digital alonside The Daily Beast didn't quite pan out, Newsweek has gotten a new lease on life thanks to current owners IBT Media. The digital publishing company, which has grown the media brand's readership overseas and given new life to its online hub, announced back in the fall that it was preparing to start printing the magazine again.
IBT figures that its potential profit from 70,000 print editions will outweigh the expenses enough to give the traditional magazine another try at the market, the New York Times reports. New issues will be on the newsstand this Friday.
“We had no real plans to bring it back into print,” Jim Impoco, Newsweek’s editor in chief, told the Times. “We called it the p-word.”
According to The Guardian, there will be two print editions, one for the United States and one for Europe. "It is good writers doing good reporting with good photographers," European editor Richard Addis told the paper, ensuring consumers that the printed magazine will be worth the hefty price tag: $7.99. IBT’s 30-year-old cofounder, Etienne Uzac, called a printed magazine “a luxury product," and rightfully so, as the greater media industry continues a steady march away from print.
Despite going against the grain, IBT Media is doing well for itself. According to the Times, “the privately held company posted revenue of about $21 million last year, largely from digital banner ads, and generated a profit of about $500,000.”
Let's hope Newsweek's return to print doesn't spoil it.