Newsweek may share the same name as the nearly century-old newsweekly, but it's no longer the same, ah, beast.
The WashPostCo owned Newsweek forever, then sold it to Sidney Harman (whose name you might recognize if you're into high-end audio) in 2010. Then it became Newsweek Daily Beast Co owed by IAC and went all-digital. Then privately held IBT Media bought it from IAC last year and relaunched it in print this month. IBT is best known for publishing http://www.ibtimes.com/, which ironically last December accused someone else of inventing Bitcoin. Sigh.
It would be unusual for the reporter charted with writing the launch cover story on Bitcoin to receive significant equity, but it is fair to say that the current editors may have a significant incentive to defend their launch cover. I have not see them hire an independent outside ombudsman to investigate the launch cover's accuracy, for instance, which other news organizations have done in similar situations.
[Disclaimer: I spent a few years working at Newsweek competitor Time Inc. and Newsweek once offered me a job.]
The WashPostCo owned Newsweek forever, then sold it to Sidney Harman (whose name you might recognize if you're into high-end audio) in 2010. Then it became Newsweek Daily Beast Co owed by IAC and went all-digital. Then privately held IBT Media bought it from IAC last year and relaunched it in print this month. IBT is best known for publishing http://www.ibtimes.com/, which ironically last December accused someone else of inventing Bitcoin. Sigh.
It would be unusual for the reporter charted with writing the launch cover story on Bitcoin to receive significant equity, but it is fair to say that the current editors may have a significant incentive to defend their launch cover. I have not see them hire an independent outside ombudsman to investigate the launch cover's accuracy, for instance, which other news organizations have done in similar situations.
[Disclaimer: I spent a few years working at Newsweek competitor Time Inc. and Newsweek once offered me a job.]