Newsweek
Newsweek launched on the 17th of February 1933 with a cover featuring seven photographs from that week's news. Thomas J. C. Martyn, a former foreign news editor for Time, secured financial backing from a group of U.S. stockholders including Ward Cheney of the Cheney silk family and John Hay Whitney. Paul Mellon, son of Andrew W. Mellon, joined the original ownership group, marking the first attempt by his family to function journalistically on a national scale. The founders invested around one million dollars in venture capital funds to start the publication. Samuel T. Williamson served as the first editor-in-chief during these early days. In 1937, News-Week merged with Today, a weekly journal founded by future New York Governor W. Averell Harriman and Vincent Astor of the prominent Astor family. This merger brought $600,000 in additional funding and made Vincent Astor the chairman of the board until his death in 1959. Malcolm Muir took over as president and editor-in-chief later in 1937, changing the magazine name to Newsweek and introducing signed columns. He also launched international editions to expand the publication's reach beyond domestic borders.
The Washington Post Company purchased Newsweek in 1961, beginning a long period of corporate oversight. Osborn Elliott became editor of the magazine that same year before rising to editor-in-chief in 1969. Edward Kosner directed extensive coverage of the Watergate scandal from 1975 to 1979, which contributed to President Richard Nixon's resignation in 1974. A significant legal challenge emerged in 1970 when Eleanor Holmes Norton represented sixty female employees who filed a claim with the Equal Employment Opportunity Commission alleging that Newsweek allowed only men to be reporters. The women won the suit with support from the American Civil Liberties Union, forcing the magazine to hire female reporters for the first time. On the day the claim was filed, the cover story read "Women in Revolt," written by freelance journalist Helen Dudar because no female writers existed at the magazine capable of handling the assignment. Elizabeth Peer, who had spent five years as a foreign correspondent in Paris, was among those passed over for full-time positions initially. In 1998, Richard M. Smith became chairman and the magazine inaugurated its "Best High Schools in America" list based on the Challenge Index measuring Advanced Placement or International Baccalaureate exam ratios.
Newsweek faced severe financial difficulties leading to a dramatic restructuring between 2008 and 2009. The magazine refocused content on opinion and commentary beginning with its the 24th of May 2009 issue after subscriber numbers dropped from 3.1 million to 1.5 million within two years. Jon Meacham, editor-in-chief from 2006 to 2010, described his strategy as counterintuitive since it involved discouraging subscription renewals while nearly doubling prices to target a more affluent subscriber base. Advertising revenues fell almost 50% compared to the prior year during this period, though expenses were also diminished in hopes of returning to profitability. By the 2nd of August 2010, Newsweek sold to audio pioneer Sidney Harman for one dollar plus assumption of liabilities after losing money for two consecutive years. Harman's bid beat three competitors including Syrian entrepreneur Abdul Salam Haykal who brought Middle Eastern investors. The magazine merged with The Daily Beast at the end of 2010 forming The Newsweek Daily Beast Company owned equally by IAC/InterActiveCorp and Harman. Tina Brown became editor of both publications following extensive negotiations. Print publication ceased at the end of 2012 after 80 years due to declining advertising and subscription revenues alongside rising production costs.
IBT Media acquired Newsweek from IAC on the 3rd of August 2013, obtaining the brand and online publication without The Daily Beast. IBT Media rebranded itself as Newsweek Media Group and relaunched print editions on the 7th of March 2014 with a cover story about Bitcoin that faced criticism for lacking substantive evidence. The company announced return to profitability on the 8th of October 2014 after struggling through previous years. Matt McAllester became global editor-in-chief in February 2017 having previously edited Newsweek International. In January 2018, Manhattan District Attorney raided Newsweek headquarters seizing 18 computer servers during an investigation into finances involving co-owner Etienne Uzac. Uzac pleaded guilty to fraud and money laundering in 2020 while several reporters were fired after covering the investigation. Newsweek Publishing LLC formed in September 2018 when IBT spun off the magazine into its own entity co-owned by Dev Pragad and Johnathan Davis. By 2020, the website reached 100 million unique monthly readers up from seven million at the start of 2017. Revenue grew significantly reaching $90 million in 2024 with a 20% profit margin under CEO Dev Pragad's leadership.
Newsweek has faced multiple accusations regarding gender representation throughout its history. On the 23rd of November 2009, former Alaska governor Sarah Palin appeared on the cover wearing athletic attire with the caption "How do you solve a problem Like Sarah?" Critics including Lisa Richardson called it sexist as hell while Taylor Marsh described it as the worst case of pictorial sexism aimed at political character assassination ever done by traditional media outlets. The photo came from Runner's World magazine where the photographer may have breached his contract allowing such use until August 2010. Another controversy emerged on the 2nd of June 1986 when the magazine published "The Marriage Crunch" claiming women unmarried by age 40 had better odds of being killed by terrorists than finding husbands. This story caused waves of anxiety among professional women though Newsweek later apologized and launched a study showing two-thirds of single 40-year-old women from 1986 had married since then. In August 2011, Minnesota Congresswoman Michele Bachmann appeared on the cover labeled "the Queen of Rage" with wide-eyed expressions that some said made her look crazy. Conservative commentator Michelle Malkin called the depiction sexist while Sarah Palin denounced the publication again.
Unlike most large American magazines, Newsweek stopped using fact-checkers in 1996 leading to numerous reporting failures over decades. In 1997, the magazine recalled hundreds of thousands of copies of Your Child special issue advising parents infants could safely eat zwieback toasts and raw carrots starting at five months old despite these items representing choking hazards. A copy editor working on two stories simultaneously caused this error according to internal investigations. In November 2022 during Mahsa Amini protests in Iran, Newsweek incorrectly reported Iran ordered execution of over 15,000 protesters when the number actually derived from UN human rights rapporteur estimates about detained individuals rather than death sentences. The claim spread widely including by actresses Trudie Styler, Sophie Turner and Viola Davis plus Canadian Prime Minister Justin Trudeau before retraction. Another incident occurred in October 2023 when Newsweek falsely claimed a viral video of Senator Tommy Tuberville falling down airplane stairs was recorded that month when it was actually filmed in 2014 nine years prior. These errors damaged credibility alongside allegations about political bias and editorial decisions regarding sensitive topics like the Clinton-Lewinsky scandal which reporter Michael Isikoff investigated but editors spiked in January 1998.
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Common questions
When did Newsweek launch and who were the original founders?
Newsweek launched on the 17th of February 1933 with financial backing from Thomas J. C. Martyn, Ward Cheney, John Hay Whitney, and Paul Mellon. Samuel T. Williamson served as the first editor-in-chief during these early days.
What major legal challenge forced Newsweek to hire female reporters for the first time?
In 1970, Eleanor Holmes Norton represented sixty female employees who filed a claim with the Equal Employment Opportunity Commission alleging that Newsweek allowed only men to be reporters. The women won the suit with support from the American Civil Liberties Union, forcing the magazine to hire female reporters for the first time.
Why did Newsweek cease print publication in 2012 after 80 years?
Print publication ceased at the end of 2012 due to declining advertising and subscription revenues alongside rising production costs. The magazine had refocused content on opinion and commentary beginning with its the 24th of May 2009 issue after subscriber numbers dropped significantly within two years.
Who acquired Newsweek in 2013 and when was it relaunched as a print edition?
IBT Media acquired Newsweek from IAC on the 3rd of August 2013, obtaining the brand and online publication without The Daily Beast. IBT Media rebranded itself as Newsweek Media Group and relaunched print editions on the 7th of March 2014 with a cover story about Bitcoin.
What controversial cover stories involving Sarah Palin and Michele Bachmann appeared in Newsweek history?
On the 23rd of November 2009, former Alaska governor Sarah Palin appeared on the cover wearing athletic attire with the caption How do you solve a problem Like Sarah? In August 2011, Minnesota Congresswoman Michele Bachmann appeared on the cover labeled the Queen of Rage with wide-eyed expressions that some said made her look crazy.
When did Newsweek stop using fact-checkers and what major reporting errors followed this decision?
Unlike most large American magazines, Newsweek stopped using fact-checkers in 1996 leading to numerous reporting failures over decades. Notable errors included recalling hundreds of thousands of copies of Your Child special issue advising parents infants could safely eat zwieback toasts and raw carrots starting at five months old in 1997 and incorrectly reporting Iran ordered execution of over 15,000 protesters during Mahsa Amini protests in November 2022.