03/21/2012 08:58 am ET Updated May 21, 2012

Tina Brown: Newsweek/Daily Beast Isn't 'Making Money Yet'

There were many skeptics when the 79-year-old news magazine "Newsweek" merged with the upstart website The Daily Beast in 2010 under the leadership of Tina Brown.  Could two media outlets, both loosing money, be combined into a financially sound operation?
In a recent interview with "Nightline," Brown, who is Editor-in-Chief of the joint venture, said it is well on it's way to success and  pushed back hard against published reports that the Newsweek/Daily Beast Company suffered $30 million in losses last year, calling such reports "excessive."

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