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Le Divorce: Corporate lovers Daily Beast and Newsweek break up
Oh my heavens. Congratulate me on my restraint. I didn’t spell out the cuss word in the title. But whaaaat? I was so excited about this marriage between Tina Brown and the Daily Beast and Newsweek! Now I get wind that they woke up with buyer’s remorse and called off the wedding? Whaaaat? This from the horse’s own mouth:
“In a previous post, I mentioned that we were having some interesting discussions with the new ownership of Newsweek about possibly doing something together. The talks were indeed intriguing, but in the end we have decided not to pursue them further.
The engagement was fun but the pre-nup got too complex. The Daily Beast, just two years old, is on a tear. We now average 4.6 million unique visitors per month, double where we were last year, and have won 43 new ad campaigns since January. This weekend we’ll gather in New Orleans for The Daily Beast Innovators Summit with guests who include General Stanley McChrystal, Sean Parker, Joseph Stiglitz, Michelle Rhee, and Spike Lee.
We wish Newsweek and its intrepid new owner Sidney Harman the very best of luck.” TINA BROWN
Say it isn’t so! I even thought we could make it a three-some with Divorce Saloon thrown in for good measure (to match up with HuffPost Divorce! Just because you’re bosum buddies doesn’t mean you can’t compete!!!) and they got divorced already??? Are you SERIOUS? Oh my heavens. I must be hallucinating. But I was over at the Daily Beast reading about celeb divorce auctions, and I thought I saw something about Tina Brown announcing that the “prenup getting too complex” and so she is out of the deal. And I was like, whaaaat? It must be true because I rushed over the WSJ and this is what they said in part:
Talks were hung up on the issue of how control would be divided among the three people, all of whom are heavily invested financially and emotionally in their respective news operations and not inclined to cede control, according to people familiar with the matter. Mr. Harman, a stereo-equipment magnate, recently acquired Newsweek from Washington Post Co. “The engagement was fun but the pre-nup got too complex,” Ms. Brown said in a memo to her staff. “We wish Newsweek all the best.”
The people familiar with the matter said talks broke down over the weekend because the two parties couldn’t come to an agreement on governance and editorial control. In a joint statement, Messrs. Harman and Diller said they “mutually decided not to pursue” the talks.“Sidney Harman presented us with an interesting possibility, but we would only consider a partnership on terms that made sense for the thriving Daily Beast,” Ms. Brown said in an email. “We weren’t able to come to terms, but I wish him the best of luck.”Read more: http://online.wsj.com