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How The Daily Beast-Newsweek Merger Fell Through: NYMag

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Then, on Sunday, October 17, as [Daily Beast editor Tina] Brown sat at home watching Boardwalk Empire, her weekly "act of escapism," she began to understand that the deal was falling apart. E-mails had shot back and forth that weekend; as one person characterized it, there was a lot of "That's what we agreed to" and "That's not what I agreed to."

On Monday morning, Harman phoned Diller from California. Harman doesn't have a permanent office at Newsweek, nor does he have a PR person or an assistant. He was making calls himself on the way to the doctor, hoping he and Diller could issue a joint gentlemanly statement. But Diller seemed fed up, and he wanted to be first to say he'd pulled out. They put out a joint statement.

Read the whole story at New York Magazine