Internet, Daily Beast | featured news

Barry Diller's IAC/InterActiveCorp. has taken a controlling stake in the Newsweek/Daily Beast joint venture, after the family of the late Sidney Harman decided to stop investing in the company.

When Brown claimed in November that the Beast was not “money-losing” but “on course to make money,” I suggested that claim be regarded with skepticism. When she claimed last week that Newsweek remains one of the world’s seven most influential news brands, I pointed to data showing otherwise. And, once again, a few grains of salt are required here.

After months of rumors, and amidst mounting speculation that a deal was imminent, The Daily Beast announced that it has withdrawn from talks with Newsweek about a merger between the two organizations. Had the deal gone through, Brown was widely expected to have become editor of the magazine.