Newsweek Sold to IBT Media

Tony Maglio
The Wrap
Newsweek Sold to IBT Media

A deal was signed for the sale of Newsweek to IBT Media on Saturday, according to The Newsweek Daily Beast Company.

The financial terms of the deal have not been disclosed.

Barry Diller's IAC is the majority-owner of Newsweek. Sidney Harman had purchased the publication for the grand total of $1 from The Washington Post Company in 2010. It later merged with IAC.

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