Newsweek to Return to Print

Newsweek will resume publishing its print magazine by February, its editor in chief said on Tuesday.

Jim Impoco, who took the magazine's helm in September, told The New York Times that Newsweek would return as a 64-page edition.

Founded in 1933, Newsweek shifted to online-only publication in January, as Newsweek Global. At its peak in 1991, the printed magazine had 3.3 million readers, the Times reports.

“It’s going to be a more subscription-based model, closer to what The Economist is compared to what Time magazine is,” Impoco told the Times. “We see it as a premium product, a boutique product.”

In August, IBT Media, which publishes the International Business Times, bought Newsweek from IAC/InterActiveCorp, whose billionaire chief executive is Barry Diller.

Diller purchased the magazine November 2010 for $1 in an agreement with the late Sidney Harman. Until then, it had been owned by The Washington Post.

Diller combined Newsweek with his existing news website, the Daily Beast, whose editor-in-chief was Tina Brown. That effort failed.

Last October, Brown said that the printed magazine would cease, saving $40 million a year, the Times reports.

She left the Daily Beast a month after the IBT deal occurred, according to the Times.