In an interview with AdAge following the announcement that Newsweek would cease print editions at the end of the year hastened , no doubt, by editor and Corpse Of Princess Diana-humper Tina Brown (who is to magazines what Michael Bay is to movies, but without the profitability and veneer of high culture) Newsweek CEO Baba Shetty explains that: when God shutters a magazine, he opens a browser window:
Ad Age: Reports say the company will save $45 million a year cutting print. Is that true?
Mr. Shetty: $40 million plus is the cost involved in the physical manufacturing and distribution of the physical product. It’s an enormously expensive undertaking that this decision gets us out from under.
Ad Age: You will also be cutting staff; can you say how many?
Mr. Shetty: No. We want to share that internally before we discuss it.
Ad Age: How big is current staff?
Mr. Shetty: The combined newsroom with the Daily Beast is 270 employees both in edit and on the business side.
Ad Age: Is there a danger that by eliminating print you also lose some of the prestige from the brand that helps launch other extensions?
Mr. Shetty: I think it goes the other way these days. Everybody understands that digital is the future and the present.
Ad Age: How will the Newsweek brand, which is a subscription product, differ from the Daily Beast, which is free?
Mr. Shetty: The Daily Beast is part of the stream — part of the constant flow of information. It’s of the moment. It’s hot, fast, sexy, cool. Newsweek is by its nature about perspective and framing around the themes that matter in the world today. It’s about longer form, sitting back, taking it in and gaining perspective. Tina likes to talk about them as the same person in different modes of life.
… like living Diana, and Zombie covergirl Diana.
But never mind that because The Daily Beast, home to political mood ring Andrew Sullivan, edgy
old new media critic Howard Kurtz, and “business, economics, and public policy” special correspondent Megan McArgleBargle is “of the moment”. And, speaking of the moment, what hot & sexy hip-hop-happenin’ business scoops has our gal McMegan broken lately?
…and MUST CREDIT DAILY BEAST!!!
Because nothing says “hot, fast, sexy, cool.” like dinner at 5PM just as they’re firing up the steam tables for the EarlyBird Senior Specials.
Creamed corn is the new quinoa.
You heard it here first.
(Image courtesy of What, This Old Thing)