Newsweek

Newsweek. A prominent American weekly news magazine, it was founded in 1933 and for decades formed part of the media triumvirate alongside Time and U.S. News & World Report. Known for its in-depth reporting, commentary, and iconic cover designs, the publication has navigated significant transformations in media, including shifts in ownership, a high-profile cessation of print, and a digital rebirth. Its history is marked by journalistic accolades, political influence, and recurring financial and editorial challenges.

History

The magazine was established in New York City by former Time editor Thomas J.C. Martyn. It quickly grew in circulation and influence, competing directly with its older rival. In 1961, it was purchased by the Washington Post Company, entering a period of stability and expansion under the leadership of publisher Katharine Graham and editor Osborn Elliott. This era saw the magazine become a powerhouse of New Journalism, breaking major stories during the Vietnam War and the Watergate scandal. Ownership changed in 2010 when audio pioneer Sidney Harman purchased it, followed by a merger with the digital news entity The Daily Beast. Financial struggles led to the cessation of its print edition in 2012, a move announced by editor-in-chief Tina Brown. After years in digital-only format, the print edition was revived under the ownership of IBT Media, the parent company of International Business Times.

Editorial stance and controversies

Historically, the publication presented a centrist to center-left perspective, often contrasted with the more conservative U.S. News & World Report. Its editorial page has featured prominent columnists from across the political spectrum, including George Will and Eleanor Clift. It has faced several notable controversies, including a 2009 retraction of a story about alleged misconduct by General Stanley A. McChrystal that led to the resignation of its editor, Jon Meacham. In 2017, it published a story sourced from ties to Donald Trump associate Rudy Giuliani, which was widely criticized and later retracted. Its covers have frequently sparked debate, such as a 2013 issue depicting Vladimir Putin as a "gay icon" and various provocative images during presidential elections involving figures like Barack Obama and Mitt Romney.

Business operations and ownership

The financial model of the traditional news magazine has been a central challenge. After its acquisition by The Washington Post Company, it operated profitably for decades. However, the rise of the internet and the Great Recession severely impacted advertising revenue. The 2010 sale to Sidney Harman was for a nominal sum, assuming its liabilities. Its subsequent merger with The Daily Beast, owned by IAC, failed to achieve profitability. Following the end of print, the Newsweek brand and its digital operations were acquired in 2013 by IBT Media, a company co-founded by Etienne Uzac and Johnathan Davis. In 2018, the publication was purchased by its current owner, Graham Holdings Company, the former Washington Post Company, marking a return to its former corporate family.

Digital transition and magazine format

The shift to a digital-first operation was a turbulent process. The 2012 decision to end print was a landmark moment in American journalism, signaling the severe pressures on traditional publishing. The digital-focused era under The Daily Beast emphasized online aggregation and commentary. After the revival of print in 2014 under IBT Media, the magazine adopted a smaller, glossy format and a subscription-heavy model, targeting an affluent, niche audience rather than mass newsstand sales. Its digital content now includes daily online articles, a membership program, and a significant presence on social media platforms, continuing to adapt to the evolving habits of the readership.

Notable contributors and alumni

Over its long history, the magazine has been a launchpad or home to many distinguished journalists and writers. Renowned political commentator and author Meg Greenfield served as its editorial page editor. Pulitzer Prize-winning historian and biographer Jon Meacham was its editor from 2006 to 2010. Notable foreign correspondents include Arnaud de Borchgrave, who served as chief foreign correspondent. Among its celebrated columnists have been Jane Bryant Quinn on finance, Pete Hamill, and the aforementioned George Will. Editor Tina Brown, who previously revitalized Vanity Fair and The New Yorker, led the magazine during its merger with The Daily Beast. Other alumni include authors Larry Martz and Jonathan Alter, and television personality Chris Matthews.

Category:American news magazines Category:Publications established in 1933 Category:Magazines published in New York City