Newsweek

For the 1978–1989 Australia North Queensland current affairs television program, see Newsweek (TV program).

Newsweek
Cover of the September 5, 1983, issue
Editor-in-chiefNancy Cooper[1]
Former editors
CategoriesMagazine, publisher
PublisherDev Pragad, president and CEO[4][5]
Total circulation
(2015)		100,000[6]
First issueFebruary 17, 1933; 91 years ago (1933-02-17)
Company
CountryUnited States
Based inNew York City
LanguageEnglish, Japanese, Korean, Polish, Romanian, Spanish, Rioplatense Spanish, Arabic, Serbian
Websitenewsweek.com
ISSN0028-9604
OCLC818916146

Newsweek is an American weekly news magazine. Founded as a weekly print magazine in 1933, Newsweek was widely distributed during the 20th century and had many notable editors-in-chief. It is currently co-owned by Dev Pragad, the president and CEO, and Johnathan Davis who sits on the board; they each own 50% of the company.[7]

In August 2010, revenue decline prompted The Washington Post Company to sell the publication to the audio pioneer Sidney Harman, for a purchase price of one dollar and an assumption of the magazine's liabilities.[8] Later in the year, Newsweek merged with the news and opinion website The Daily Beast, forming The Newsweek Daily Beast Company. Newsweek was jointly owned by the estate of Harman and the diversified American media and Internet company IAC.[9][10] Newsweek continued to experience financial difficulties leading to the cessation of print publication and a transition to an all-digital format at the end of 2012.

In 2013, IBT Media acquired Newsweek from IAC; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast.[11] IBT Media, which also owns the International Business Times, rebranded itself as Newsweek Media Group, and in 2014, relaunched Newsweek in both print and digital form. In 2018, IBT Media split into two companies, Newsweek Publishing and IBT Media. The split was accomplished one day before the District Attorney of Manhattan indicted Etienne Uzac, the co-owner of IBT Media, on fraud charges.[12][13][14]

Under Newsweek's current co-owner and CEO Dev Pragad, it is profitable, growing 20–30% per year; between May 2019 and May 2022, its monthly unique visitors rose from about 30 million to 48 million according to Comscore. Since Pragad became CEO in 2016, readership has grown to 100 million readers per month, the highest in its 90-year history.[15][16] Harvard Business School published a case study of the company in 2021.[17]

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  7. ^ Newsweek shareholders resolve litigation Archived September 16, 2023, at the Wayback Machine. newsweek.com.
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  9. ^ Cite error: The named reference merger was invoked but never defined (see the help page).
  10. ^ "The Daily Beast and Newsweek confirm merger". The Spy Report. November 12, 2010. Archived from the original on November 16, 2010. Retrieved November 12, 2010.
  11. ^ Cite error: The named reference ibtpr was invoked but never defined (see the help page).
  12. ^ "DA Vance Announces Indictment of Newsweek and Christian Media Chiefs in Long-Running $10 Million Fraud Probe". Manhattan District Attorney's Office. October 11, 2018. Archived from the original on July 19, 2021. Retrieved July 19, 2021.
  13. ^ Cite error: The named reference :3 was invoked but never defined (see the help page).
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  17. ^ Applegate, Linda M.; Srinivasan, Surja (February 14, 2022) [October 18, 2021]. "Newsweek: Driving a Digital First Strategy". Harvard Business School Case Study. Archived from the original on October 24, 2023. Retrieved October 17, 2023.