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internationally," Brown writes.
• During an earnings call in July, IAC/InterActiveCorp CEO Barry Diller said Newsweek would announce a digital plan for the magazine this fall. After Bloomberg's Edmund Lee (presciently) interpreted Diller's statement to mean the magazine would eliminate its print edition, Brown emailed staff to note that Diller "did not say on the earnings call as reported that Newsweek is going digital in September."
• According to Newsweek's most recent publisher's statement filed with the Audit Bureau of Circulations, the company's print circulation has dropped 51 percent since 2007. Currently, paid subscriptions to Newsweek's digital-replica edition account for 1.8 percent of its circulation, according to the statement.
• In contrast, the magazine's online publishing is faring better, according to Brown's announcement:
• The Daily Beast now attracts more than 15 million unique visitors a month, a 70 percent increase in the past year alone--a healthy portion of this traffic generated each week by Newsweek's strong original journalism.
• Two years ago, IAC merged its Daily Beast with Newsweek, owned by Sidney Harman, who died in 2011. Harman's family announced this summer that it would no longer invest in the company. Harman bought the paper in 2010 from The Washington Post Company.
• A memo from Brown and Newsweek/Daily Beast CEO Baba Shetty to staffers Thursday morning repeats much of what's in the public announcement.