Newsweek has published its first print edition in more than 14 months, nine months after being acquired by digital news organisation IBT Media.
In its re-release issue, Newsweek ran a lengthy feature in which it claimed to have uncovered the founder of digital currency Bitcoin as its cover story.
The subsequent controversy regarding the story and its veracity have put the magazine firmly back in the media spotlight, after it relinquished much of its influence after merging with online news publication The Daily Beast in 2010.
The weekly magazine initially ceased publication of its print edition in December 2012, two years after being purchased by engineer and businessman Sidney Harman and in the wake of declining circulation and advertising revenue. Mr Harman acquired the paper for $1 at the time – in addition to millions in financial liabilities – before completing the merger with The Daily Beast, owned by IAC/InterActiveCorp.
The magazine’s announcement of a return to print in December 2013 came eight months after IBT Media’s purchase of the Newsweek brand and its online publication from IAC/InterActiveCorp in April 2013. That purchase did not include the acquisition of partner publication The Daily Beast.
Newsweek plans to continue publishing a weekly magazine for the foreseeable future, a positive sign for a magazine that struggled initially to adapt and prosper in the digital age.
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