Newsweek is being sold to an online news company, less than a year after it ended publication of its weekly print magazine and went all digital.
IBT Media, which publishes the International Business Times, said it was acquiring Newsweek from IAC, run by Barry Diller. Terms weren't disclosed.
"We believe IBT will serve as an excellent new home in which Newsweek has the opportunity to thrive," read a memo to employees from Rhonda Murphy, interim CEO of the Newsweek Daily Beast Company.
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