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This PrivCo private company report on Newsweek Daily Beast provides a detailed Newsweek Daily Beast company profile, consisting of Newsweek Daily Beast financials, Newsweek Daily Beast mergers and acquisitions details, including where Newsweek Daily Beast acquires another company, and more private company information on Newsweek Daily Beast
Newsweek Daily Beast summary:
Privately-held Newsweek Daily Beast was formed by Sidney Harman in 2010 by purchasing Newsweek Magazine from the Washington Post Company. Sidney Harman then entered into a joint venture with IAC which owned Daily Beast, to form The Newsweek Daily Beast. After Harman died, his family discontinued its contributions to the failing joint venture, effectively giving IAC a controlling interest in the company. IAC's stake will grow over time as it continues to fund operating losses with new equity injections. The Newsweek Daily Beast is based in New York City.
In August 2013, Newsweek Daily Beast announced the sale of its Newsweek assets to The International Business Times, Inc., (a.k.a. IBT Media).