It
was announced this weekend that IBT Media has agreed to purchase Newsweek from IAC.
IBT Media is the New York-based, digital-only publisher of flagship brand International Business Times, as well as ten other online news sites.
The deal splits Newsweek from The Daily Beast, which will remain with IAC. IBT will relaunch the brand under its former Newsweek.com URL.
IBT launched in 2006 and its platform reaches a combined 30 million unique visitors.
Terms of the deal were not released, but it's expected to close within a week.
IBT Media is the New York-based, digital-only publisher of flagship brand International Business Times, as well as ten other online news sites.
The deal splits Newsweek from The Daily Beast, which will remain with IAC. IBT will relaunch the brand under its former Newsweek.com URL.
IBT launched in 2006 and its platform reaches a combined 30 million unique visitors.
Terms of the deal were not released, but it's expected to close within a week.
