It's no secret that times are rough at weekly news magazines, but are their days proclaiming the week's headlines from physical newstands over? For Newsweek, they may be soon.
On an earnings call today, Barry Diller, president of IAC, which owns Newsweek, said his company was considering ways to jettison the cost of manufacturing a weekly print version of their product.
"… The brand is good. What is the problem? The problem is, manufacturing and producing a weekly newsmagazine, and that has to be solved," Diller said on the call, according to Peter Kafka of AllThingsD. "And everybody is going to face the same problem — other than, I think, luxury brands — over a period of time. Because advertising in this category is entirely elective. And the transition will happen, I believe. I’m not saying it will happen totally. But the transition to online from hard print will take place. We’re examining all of our options."
Get ready for a new era.