UPDATE: Politico's Mike Allen reports via Twitter that Tina Brown is forming her own company called Tina Brown Live Media, in which she will head up both its business and editorial sides. The new company will allegedly be more focused on events, such as expanding the Women of the World Conference and hosting flash debates. The Daily Beast itself confirmed the move later this afternoon, with Brown calling her new venture a home for "theatrical journalism" that creates novel insights into the news. That's certainly a Brownian approach, if there ever was one. (Mediabistro)
Originally published 2:35 p.m.: According to a report by Buzzfeed's Peter Lauria, Tina Brown will no longer be editing The Daily Beast after the end of the year. The website's parent company IAC, owned by Diane von Furstenberg's husband Barry Diller, will not renew Brown's contract in January, claims an inside source. Details are yet to emerge about the particulars of the split, as they are still being worked out between IAC and Brown. Lauria reports that the future of The Daily Beast, which Brown founded, is also still uncertain, and that a sale or closure might be possible if it doesn't continue under a new editor.
Both IAC and Brown, former editor of Vanity Fair and The New Yorker, declined to comment on the BuzzFeed story. This news comes barely a month after The Daily Beast sold off Newsweek, with which it had merged in 2010, to the owner of the International Business Times, IBT. What could a Daily Beast without Tina Brown even look like? We'll keep you updated as more details come to light. (Buzzfeed)