The Last Temptation of Tina Brown
(not saying this is the pot calling the kettle black, but what did the NY Times pay for the Boston Globe and what did they just sell it for? 'nuf said! gd)
On Nov. 12, 2010, Tina Brown gathered the staff of her Web site The Daily Beast in the third-floor conference room at its Chelsea offices with its commanding views of the Hudson. Brimming with the fervor she has brought to all her endeavors, she delivered some surprising news: the Web site would merge with Newsweek, a once-proud but struggling magazine brand.
Ms. Brown, according to staff members who were present, spoke excitedly about the potential synergies for advertisers across platforms and promised to produce a new form of magazine journalism, where digital would drive print instead of the other way around. But after a few softball questions from the staff, Peter Lauria, the company’s media reporter, braved a more skeptical one:
Given that the two publications lost more than $30 million in the previous two years, he asked, why was it a good idea to put them together? And if The Beast was on schedule to break even in 18 months, how much longer would it take now that Newsweek was part of the mix?
Ms. Brown says she has no recollection of that particular meeting, but half a dozen employees who say they were present said the atmosphere immediately turned awkward. The famous editor gave no ground. The target, she said, remained 18 months.
http://www.nytimes.com/2013/08/05/business/media/the-last-temptation-of-tina-brown.html?nl=todaysheadlines&emc=edit_th_20130805&_r=0
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