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November 15, 2010 / Matt Gerardi

Newsweek Site to Shut Down in Wake of Daily Beast Merger

The newly formed Newsweek Daily Beast Company has announced that it will be shuttering Newsweek’s online presence in favor of bolstering staff at The Daily Beast and redirecting Newsweek.com traffic to the Beast. (Mediaweek)

Many media critics are surprised by the decision and quick to point out that Newsweek.com’s monthly visitor count is well more than twice that of the Beast’s. 

Newsweek Daily Beast Company CEO Stephen Colvin, formerly president of the Daily Beast, has defended the move saying, “the Daily Beast is a very credible and successful news and opinion Web site. And with great vitality and distinct voice.”

Some critics see this as an excuse to remove Newsweek content from the web where it is free to view in an attempt to increase the magazine’s circulation, however, Newsweek.com’s shuttering will not mean the entirety of Newsweek content will be unavailable on the web. The Beast will be publishing “Newsweek-branded content.” Whether this means content from the Newsweek magazine or content designed specifically for publication on the Beast is unclear. (Business Insider)

The financial future of this new venture is yet to be seen, but many are skeptical about its chance at success. Colvin believes the two companies could make more money as a single entity.

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