We have made the tough and right decision to cease printing. We know that the results of that are going to dramatically decreases losses in the future.
IAC chairman Barry Diller talked about Newsweek on the company’s earnings call earlier this morning. The above makes sense, financially speaking, especially knowing it cost something like $40M to keep the printing operation up and running. He also said, “We have a very, very solidly growing Daily Beast,” which of course is our website, and yes, has a tumblr too. You should follow it! (via newsweek)