07/11/2013 01:46 pm ET Updated Jul 11, 2013

Newsweek Sale: Several People Reportedly Interested In Buying Title

A source told The Wrap that Newsweek could be sold very soon.

"Several people are very interested" in buying the 80-year old magazine, which stopped printing at the end of last year, the source said in a piece published Wednesday. "IAC is just as interested in selling it to them," The Wrap reported.

The source did not name the interested parties. It is the latest rumbling about a sale, since Brown and Shetty confirmed reports that they were looking for a buyer in order to focus more on the Daily Beast.

Earlier this year, IAC chairman Barry Diller admitted that he wished he "hadn't bought Newsweek," calling the decision "a mistake." In May, New York magazine imagined some of the ways Newsweek could be re-incarnated.

Wednesday's report coincided with news of executive editor Justine Rosenthal's departure from the magazine. Her exit is the latest part in a series of high-profile departures. Senior writer Tony Dokoupil, senior editor Sarah Blustain and senior writer Megan McCardle have all left. Their departures came shortly after former CEO Baba Shetty announced that he was leaving. Meanwhile, Andrew Sullivan, Howard Kurtz and Jace Lacob have also left.

The magazine ended its print publication at the end of last year, and is now released in a digital-only format. Reflecting troubles across the publishing industry, Newsweek suffered precipitous drops in circulation, subscribers and ad pages in the last few years.



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