Newsweek's new owner wants to resume printing the magazine.
IBT Media, a New York-based media company that bought the Newsweek brand in August, plans to revive the magazine early next year, following its last printed issue that was published at the end of 2012. The magazine expects to begin a 64-page weekly edition in January or February.
IBT plans to generate most of its Newsweek-related revenue from subscription instead of advertising, according to the New York Times.
Newsweek’s return to print is being seen as a positive sign for a magazine that had struggled to survive as more readers switched to online versions of newspapers and magazines to get their news. The magazine had 3.3 million readers at its height in 1991.
The 80-year old newsmagazine brand, which had been financially troubled for years, was sold to IAC/InterActive in 2010. Controlled by billionaire media mogul Barry Diller, IAC added the magazine's digital operation to its Daily Beast news website and shut down the print product. Failing to turn it into a profitable operation, IAC eventually sold it to IBT for an undisclosed sum after several months of searching for a buyer.
Since buying the brand, IBT has relaunched Newsweek dot com and named Jim Impoco as its new editor-in-chief. Impoco previously worked at Thomson Reuters as enterprise editor and executive editor for Thomson Reuters Digital.