What IBT Wants With Newsweek

http://adage.com/article/media/ibt-media-buys-newsweek-iac/243495/

"We are 100% a digital publisher," said Jonathan Davis, co-founder and chief content officer at IBT Media, which publishes 10 global news sites including its flagship publication the International Business Times. "That being said, we don't want to exclude [print] from our future plans."
IAC/InterActiveCorp said Saturday that it had agreed to sell Newsweek to IBT Media for an undisclosed amount. The deal did not include The Daily Beast, the IAC property with which Newsweek was combined.
Mr. Davis and IBT Media's other co-founder, CEO Etienne Uzac, said Newsweek gives the seven-year-old company a measure of cachet in the editorial space and additional revenue streams on the business side that it didn't have in the past. The International Business Times is supported by advertising. Newsweek provides the company with not only additional ad revenue, but also a base of paying subscribers, which they said has been growing since Newsweek went digital-only at the end of 2012.