IBT Media licenses Newsweek brand for November launch of Czech language edition
Newsweek’s U.S. edition readership remains minuscule (and remains unaudited), but its new owner has managed to launch nine international editions through business deals
Thanks to the fact that Newsweek is no longer audited, we longer get articles written like this one from 2009 in The Atlantic on the death of the newsweekly.
That article points out that The Economist seemed to be doing well, while TIME and Newsweek were “seeking to avoid the fate of U.S. News & World Report.” Like paywalls, newsweeklies seem to be do best where the information contained in them is of financial benefit (and the subscription price can be written off on the reader’s taxes).
A decade ago both news magazines were doing far better, with TIME with a rate base above 4 million (it is 3.25M now) and Newsweek claiming that all its worldwide editions added up to close to TIME’s total U.S. circulation.
Launched in 1933 by a former TIME editor, the magazine was sold to The Washington Post Company in 1961. Things go bad last decade and the title was sold for a dollar to audio pioneer Sidney Harman in 2010. Within two years it was merged with The Daily Beast and editor Tina Brown had managed to make the magazine irrelevant, making it invisible in 2012 when it went digital-only.
In 2013 the title was sold off to IBT Media, which relaunched the print edition one year later with a rate base of 100,000. Does it even reach 100K? Who knows? But IBT Media has managed to license the brand to other publishers which probably brings in a little revenue.
See IBT Media’s announcement for the new Czech edition:
NEW YORK and PRAGUE – May 19, 2015 — Newsweek, a premier weekly news magazine owned by IBT Media, today announced that it has entered into an exclusive licensing partnership with Business Consulting & Media, Ltd., Central Europe-based publisher, to launch a Czech language edition through its Czech daughter company MediaRey SE. The first issue hits newsstands in November. The new edition will include translations of Newsweek’s world-class journalism in addition to content created by a Czech Republic-based editorial team that is already in development.
“Newsweek is continuing to expand globally and we are excited to partner with Business Consulting & Media to bring this venerable brand to Czech readers this fall,” said Etienne Uzac, CEO and Co-Founder of IBT Media.
Business Consulting & Media has published several regional corporate and lifestyle magazines across Central Europe. It has also created local language editions of Forbes in the Czech Republic, Slovakia, Hungary and Austria.
“The Czech media market starves for quality content based on independent journalism and global experience. We have no doubt that Newsweek is the right choice for this mission,” pointed out Erik Conrad, Co-founder of Business Consulting & Media “We have spent quite a long time to find the best partner and we are glad that we have chosen Newsweek – a magazine with a global tradition, open-minded approach and modern concept.”
Jiri Nadoba, an experienced journalist who previously worked as Senior Editor at Forbes Czech Republic and Hospodarske noviny, the country’s largest business daily, as well as Mlada fronta DNES broadsheet daily will be Editor in Chief.
“Newsweek is a brand this market needs and something that Czechs will love,” added Nadoba.
The Czech language edition of Newsweek will be the ninth international version of the magazine. Other editions are distributed in Japan, South Korea, Latin America, Montenegro, Poland, Serbia, the United Kingdom and the Middle East. Empirical Media, which pursues and facilitates foreign license partnerships, served as an advisor in the formation of this new edition.