The former US current affairs magazine Newsweek has been sold to a US digital news company. IBT Media will buy what is left of the magazine, which published its last edition in December, from owner IAC for an undisclosed price. After 80 years, Newsweek became a digital-only publication amid falling ad revenues as audiences moved online. It was last sold by the Washington Post for one dollar in 2010 and merged with the Daily Beast website. IBT Media say the newsweek.com web address will be revived in the coming weeks.
Newsweek's first edition was published on February 17, 1933. At its height, it had a circulation of three million, but declining readership and advertising revenue saw it fall into losses like many of its publishing peers.
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