Newsweek is on the block — again. Parent Company IAC is sending out inquiries to prospective buyers who may be interested in purchasing the 80-year-old title, which ended weekly publication of its domestic edition late last year.
Even worse, Newsweek Online lost one million readers since January.
According to sources who have been briefed, Newsweek’s 1.5 million subscribers, in the quarter before it ended its print edition, fell to 470,000 in the first quarter of this year, with estimates that it will continue to decline throughout the year.
The figures showed positive operating income before amortization, but negative cash flow.
Online traffic declined from 2.9 million unique visitors in January, to 1.9 million last month, according to those who have seen the numbers.