IBT Media Buys Newsweek From IAC

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http://techcrunch.com – I guess today is the day for announcing the sale of struggling media properties: IBT Media just said that it has reached an agreement to acquire Newsweek from IAC. Back in 2010, Newsweek merged with IAC-owned website The Daily Beast. (The magazine subseqeuntly ceased print publication and went digital-only.) However, earlier this year, IAC Chairman Barry Diller said that buying Newsweek was a mistake, one he would correct by selling it off. “We are thrilled to welcome this iconic brand and global news property into our portfolio,” said IBT co-founder and CEO Etienne Uzac in a press (IT news)