Newsweek is seeking to make a comeback in print media. In an interview with The New York Times, Newsweek Editor-in-Chief Jim Impoco said that they are expecting to start a 64-page weekly print edition in January or February next year. The weekly magazine stopped its print publication last year.
According to Impoco, the print edition will rely a great deal on its subscribers than on advertisers to operate. He also said readers would be forking out more for their subscriptions compared to what they paid previously.
Impoco told The New York Times, "It's going to be a more subscription-based model, closer to what The Economist is compared to what Time magazine is. We see it as a premium product, a boutique product."
The report said Newsweek's foray back to print is a positive sign for the magazine that has faced huge challenges in the digital age. At its peak in 1991, the magazine boasted a readership of 3.3 million. Three years ago, billionaire investor Sidney Harman bought the magazine from its owner The Washington Post for USD 1. He also assumed the magazine's liabilities worth USD 40 million. He then merged Newsweek with the website The Daily Beast which is owned by IAC/InterActive Corp. Both titles were led by editor Tina Brown but the venture did not succeed.
Although Newsweek decided to go online-only, the report said doing away with the print costs was not a solution for the magazine. IAC/InterActive Corp sold Newsweek to privately-owned digital media firm IBT Media in August. IBT Media owns International Business Times, a top 100 U.S. site according to Quantcast, and other online news brands. When the acquisition was completed, IBT Media co-founder and owner Etienne Uzac had said that they had no plans to revive the magazine's print edition but did not completely rule out the possibility.
According to Impoco, IBT is already in negotiations with printers and distributors so that it won't have to spend as much in publishing the magazine as its predecessor.
Join the Conversation