Photo: Courtesy of Newsweek.
Old-school Newsweek is coming back from the dead. IBT Media, the company which purchased the magazine back in August, announced Tuesday that it will revive Newsweek's folded print edition as soon as January 2014. Newsweek's print version shuttered at the end of 2012, when its previous owner, IAC, decided to end its plummeting readership tailspin.
It's a bit of a shocker for the media world, which is doing anything but moving back towards print. Just this week, New York Magazine announced it would reduce its print output to a bi-monthly schedule.
CNN's Brian Stelter suggests that the new Newsweek model will resemble that of The Week. "The Week has ads, and Newsweek will too," writes Stelter. "But the bulk of The Week's revenues come from circulation." So, Newsweek's ad program will merely shore up its subscription revenues, instead of supporting the majority of the magazine.