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IAC/InterActiveCorp., which controls Newsweek, plans to announce a digital plan for the magazine this fall, though it’s unclear how that will affect the print publication.
Bloomberg reporter Edmund Lee, who listened to IAC/InterActiveCorp’s earning call, tweeted, “Barry Diller says there will be a plan in place later this year to take Newsweek digital only.” He tweeted later that he had confirmed this with a public relations representative.
All Things D’s Peter Kafka has a different take, saying his understanding is that Diller is “thinking about going Web-only with Newsweek, but hasn’t committed to it.” Kafka says he confirmed that understanding with a public relations rep.
Politico’s Dylan Byers has a similar take as Kafka, based in part on an email from the same person Kafka talked to.
Kafka posted his transcription of the relevant portion of the call. Diller commented that Newsweek has a good brand, but it, like others, has to solve the problem of producing a weekly magazine.
“And the transition will happen, I believe. I’m not saying it will happen totally. But the transition to online from hard print will take place. We’re examining all of our options. Our plan is that, by September, October and certainly, uh, firmly have a plan in place for next year. It’s going be different than it is this year. I can’t tell you in what ways it’s going to be different. But it will be different.”