Newsweek has been acquired by the International Business Times for an undisclosed amount, IBT announced on Saturday.
Back when Newsweek was a print magazine, it published covers like this one. (Newsweek)
The acquisition of the digital-only magazine is expected to close in the next few days, IBT said. For two months, the publication will continue to be run IAC, Newsweek’s current owners.
The news was first made public by Capital New York on Saturday,prompting IBT to confirm the news a short time later.
Newsweek was merged with The Daily Beast in 2010 shortly after it was acquired by IAC from the Washington Post. In late 2012, Newsweek announced it would stop printing, transitioning to an all-digital format distributed online and via tablet computers.
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