Beauty And The Beast: Newsweek And The Daily Beast Join Forces

Tina Brown, The Daily Beast founder and editor-in-chief, has announced that her wildly successful publication is joining forces with Newsweek to form a brand-new venture: The Newsweek Daily Beast Company.

To be owned equally by Barry Diller's IAC and Sidney Harman, the owner – and, according to Brown, the savior – of Newsweek.

“As for me,” Brown said, “I shall now be in the editor-in-chief's chair at both The Daily Beast and Newsweek, bringing with us as CEO my Daily Beast business partner Stephen Colvin.”

Colvin is responsible for launching The Week Magazine in the U.S., as well as Maxim, as president of Dennis Publishing. Brown said that his dynamism has created 66 new ad campaigns for The Daily Beast since she persuaded him to join her company a year ago.

“[We] look forward to joining with Sidney Harman, who made his fortune and reputation as founder of Harman International, the worldwide audio manufacturer, and has a mind that's alive with a cultural curiosity that's exactly what you need to succeed in the publishing world,” Brown concludes. “I very much admire his passion to restore Newsweek to its glory days, and with a bit of luck and a lot of hard work, we will. Join us for the journey!”