Newsweek
Newsweek is a weekly news magazine. Founded as a weekly print magazine in 1933, Newsweek was widely distributed during the 20th century and had many notable editors-in-chief. It is currently co-owned by Dev Pragad, the president and CEO, and Johnathan Davis who sits on the board; they each own 50% of the company.[7]
For the 1978–1989 Australia North Queensland current affairs television program, see Newsweek (TV program).Editor-in-chief
- Malcolm Muir (1937–1959)
- Osborn Elliott (1961–1976)[2]
- Jon Meacham (2006–2010)[3]
Dev Pragad [4][5], President and CEO
100,000[6]
February 17, 1933
- Independent (1933–61, 2018–present)
- The Washington Post Company (1961–2010)
- The Newsweek Daily Beast Company/IAC (2010–13)
- IBT Media (2013–18)
- Newsweek Publishing LLC (2018–present)
United States
English, Japanese, Korean, Polish, Romanian, Spanish, Rioplatense Spanish, Arabic, Serbian
Revenue declines prompted The Washington Post Company to sell the publication in August 2010, to the audio pioneer Sidney Harman a purchase price of one dollar and an assumption of the magazine's liabilities.[8] Later in the year, Newsweek merged with the news and opinion website The Daily Beast, forming The Newsweek Daily Beast Company. Newsweek was jointly owned by the estate of Harman and the diversified American media and Internet company IAC.[9][10] Newsweek continued to experience financial difficulties leading to the cessation of print publication and a transition to an all-digital format at the end of 2012.
In 2013, IBT Media acquired Newsweek from IAC; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast.[11] IBT Media, which also owns the International Business Times, rebranded itself as Newsweek Media Group, and in 2014, relaunched Newsweek in both print and digital form.
In 2018, IBT Media split into two companies, Newsweek Publishing and IBT Media. The split was accomplished one day before the District Attorney of Manhattan indicted Etienne Uzac, the co-owner of IBT Media, on fraud charges.[12][13][14]
Under Newsweek's current co-owner and CEO, Dev Pragad, it is profitable growing 20-30% per year : between May 2019 and May 2022, its monthly unique visitors rose from about 30 million to 48 million, according to Comscore. Pragad became CEO in 2016; readership has grown to 100 million readers per month, the highest in its 90-year history.[15][16] The operations of the company were researched by the Harvard Business School; they published a case study in 2021.[17]
Circulation and branches[edit]
In 2003, worldwide circulation was more than 4 million, including 2.7 million in the U.S; by 2010 it reduced to 1.5 million (with newsstand sales declining to just over 40,000 copies per week). Newsweek publishes editions in Japanese, Korean, Polish, Romanian, Spanish, Rioplatense Spanish, Arabic, Turkish, Serbian, as well as an English-language Newsweek International. Russian Newsweek, published since 2004, was shut in October 2010.[50] The Bulletin (an Australian weekly until 2008) incorporated an international news section from Newsweek.
Based in New York City, the magazine claimed 22 bureaus in 2011: nine in the U.S.: New York City, Los Angeles, Chicago/Detroit, Dallas, Miami, Washington, D.C., Boston and San Francisco, and others overseas in London, Paris, Berlin, Moscow, Jerusalem, Baghdad, Tokyo, Hong Kong, Beijing, South Asia, Cape Town, Mexico City and Buenos Aires.
According to a 2015 column in the New York Post, after returning to print publication, Newsweek was selling c. 100,000 copies per month, with staff at that time numbering "about 60 editorial staffers", up from a low of "less than 30 editorial staffers" in 2013, but with plans then to grow the number to "close to 100 in the next year".[6]
Controversies[edit]
Allegations of sexism[edit]
In 1970, Eleanor Holmes Norton represented sixty female employees of Newsweek who had filed a claim with the Equal Employment Opportunity Commission that Newsweek had a policy of allowing only men to be reporters.[21] The women won, and Newsweek agreed to allow women to be reporters.[21] The day the claim was filed, Newsweek's cover article was "Women in Revolt", covering the feminist movement; the article was written by Helen Dudar, a freelancer, in the belief that there were no female writers at the magazine capable of handling the assignment. Those passed over included Elizabeth Peer, who had spent five years in Paris as a foreign correspondent.[51]
The 1986 cover of Newsweek featured an article that said "women who weren't married by 40 had a better chance of being killed by a terrorist than of finding a husband".[52][53] Newsweek eventually apologized for the story and in 2010 launched a study that discovered 2 in 3 women who were 40 and single in 1986 had married since.[52][54] The story caused a "wave of anxiety" and some "skepticism" amongst professional and highly educated women in the United States.[52][54] The article was cited several times in the 1993 Hollywood film Sleepless in Seattle starring Tom Hanks and Meg Ryan.[52][55] Comparisons have been made with this article and the current rising issues surrounding the social stigma of unwed women in Asia called sheng nu.[52]
Notable contributors or employees have included:
Those who held the positions of president, chairman, or publisher under The Washington Post Company ownership include:
Publications[edit]
Newsweek publishes World's Best Hospitals annually, a ranking of the best hospitals in 20 countries based on the opinions of medical professionals, patient survey results and key medical performance indicators. The countries monitored are the United States, Canada, Germany, France, United Kingdom, Italy, Spain, Switzerland, Netherlands, Sweden, Denmark, Norway, Finland, Israel, South Korea, Japan, Singapore, India, Thailand, Australia,Argentina, and Brazil.[100]