Evidently Newsweek (or the online-only digital carcass of same) is for sale again. Gee, people don’t want to pay for an online version of a stale newsweekly turned into another carrier-medium for liberal opinion? Who knew?
Back in 2009, you may remember Newsweek‘s decision to remake itself as a liberal opinion weekly, an odd financial choice in a country where conservatives outnumber liberals nearly 2-to-1. Since then Newsweek has managed the amazing feat of hemorrhaging readers faster than other print publications. Then the Washington Post company decided to sell the venerable newsweekly to Sidney Harman for $1, screwing its shareholders but keeping the magazine’s money-losing liberal slant under Tina Brown’s editorship. Hired to steer the ship around the iceberg, Brown instead decided to teach the iceberg who’s boss by ramming it a few more times.
Vast swathes of legacy print media are in trouble in the Internet-era, but Newsweek‘s demise is more like an assisted suicide than a graceful decline. It’s like a Type II diabetic who had already lost three toes deciding to immediately go on a diet consisting entirely of ice cream.
Newsweek had a choice between being profitable and being liberal, and they chose liberal.
And remember that Newsweek‘s steep circulation decline, which happened right around the same time they decided to tack hard-left, was considerably more severe than declines at other newsweeklies.
So if Newsweek was worth $1 before Tina Brown managed to destroy all its remaining value, how much is it worth now?
Can they find someone willing to shake the cage a little longer?
Tags: Media Watch, Newsweek, Tina Brown