New Newsweek a Lot Like Old Newsweek

Co-founder is one of 4 staffers let go

(NEWSER) - Slate co-founder Jack Shafer, who has been with the online magazine since before its official launch in 1996, is being laid off, it was announced yesterday. The media critic is one of four staff members being let go; Timothy Noah , June Thomas , and Juliet Lapidos are the others, reports the Washington Post . (The Washington Post Co. bought Slate in 2004 from Microsoft.) Some reactions:

• "If you weren't reading [Jack, Tim, June, and Juliet's] stuff, you're in luck—it'll be online 'til the Internet dies," writes Slate colleague David Weigel. "If you write, you should study it, because these people think and write circles around most everyone in the job-formerly-known-as-the-Life-of-Kings."

Newsstand sales of first three issues up over 2010 average

(NEWSER) - Jack Shafer may have called Tina Brown's Newsweek "a meal that a homeless person would walk away from," and the April 12 issue may have had a slim six ads , but score one for Brown: Her Newsweek isn't festering at the newsstand. Sales of Brown's first issue, featuring Hillary Clinton, were up 19% from the mag's average last year, reports Adweek . And the second and third issues continued the upward swing, beating the 2010 average by 7% and 21%, respectively. If that continues is, of course, TBD. Click to read more about the incentive Newsweek is offering to try to reel in subscribers . More»

Sidney Harman assumes magazine's growing losses

(NEWSER) - Sidney Harman has agreed to buy Newsweek, Advertising Age reports . The 91-year-old stereo-equipment magnate, who is married to Democratic Rep.Jane Harman, will essentially pay nothing for the magazine—the real cost comes in assuming Newsweek's liabilities, which could top $70 million this year. The Washington Post Co. has been looking for a buyer for Newsweek since May, when it announced the magazine would lose money again this year. More»

Washington Post Co. cites mounting losses

(NEWSER) - The Washington Post Company is looking for someone to take Newsweek off its hands, the company announced in a press release today (to the apparent surprise of Newsweek's Tumblr ). “The losses at Newsweek in 2007-2009 are a matter of record,” said Donald Graham, chairman of the Post Company. “We expect it to still lose money in 2010. .. Newsweek is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere.” With a sales pitch that upbeat, it'll sell in no time. More»

President agrees to play essayist

(NEWSER) - President Obama will write a cover story about Haiti for the next edition of Newsweek, which will hit the newsstands Monday. How did the newsweekly snag him? Editor Jon Meacham simply called up David Axelrod, who put the question to his boss, the Wall Street Journal reports. More»