By Christopher B. Daly
Another legacy news institution dies. The latest print publication to fail to make the transition to a digital ecology is Newsweek — a fixture on the American scene since its founding in 1933. After decades as a profitable division of the Washington Post Co., the weekly news magazine peaked at a paid circulation of just over 3.1 million a week, in 2001. Less than a decade later, with circulation plummeting and debts mounting, the Post company sold Newsweek for one dollar, just to try to stop the bleeding, and the magazine merged with the Daily Beast.
Newsweek was important as an alternative to the Luce empire’s older and bigger TIME magazine in the weekly news-magazine market, and it did some fine reporting and photography over the years.
Technically, Newsweek is ceasing to publish in print. It will go online-only and be folded into the Daily Beast website, founded and run by Tina Brown.
Here’s a collection of Newsweek covers from today’s Daily Beast site.
p.s. I hate writing these obits for legacy media, and I hope this is the last. — CBD