Newsweek on Block as Era of the Newsweekly Fades

By STEPHANIE CLIFFORD
NYT

For generations, Time and Newsweek fought to define the national news agenda every Monday on the newsstand. Before the Internet, before cable news, before People magazine, what the newsweeklies put on their covers mattered.

As the American conversation has become harder to sum up in a single cover, that era seems to be ending. The Washington Post Company announced Wednesday that it would sell Newsweek, raising questions about the future of the newsweekly, first published 77 years ago.

Donald E. Graham, chairman and chief executive of the Washington Post Company, said in an interview that the decision was purely economic.

“I did not want to do this, but it is a business,” he said. The magazine would lose money in 2010, he said, and “we don’t see a sustained path to profitability for Newsweek.”

(More here.)