Newsweek announces ‘strategic structural changes’ amid turmoil

Newsweek’s owners announced a “series of strategic structural changes” to the media company on Tuesday, amid turmoil at the magazine that has included a law enforcement raid and wide-ranging resignations and firings.

The changes from Newsweek’s owners include spinning Newsweek and its sister outlet the International Business Times, into two “separate operating entities.”

“Newsweek Media Group is announcing a series of strategic structural changes that will see its International Business Times and Newsweek brands spun off into separate entities in a move designed to position its portfolio of news and information brands for future growth,” the announcement begins. {mosads}

The announcement includes new plans to boost the Newsweek staff, after the magazine’s editor-in-chief, executive news director and several senior writers were fired for investigating its parent company following a raid by the Manhattan district attorney.

International Business Times Managing Editor Nancy Cooper, a former senior editor at Newsweek, will be Newsweek’s new editor-in-chief.

“I’m delighted to take on this role,” said Cooper in a statement. “I look forward to the challenge of building Newsweek’s respected journalistic heritage while leading our global digital expansion.” 

Editor-in-chief Bob Roe, executive news director Ken Li and senior reporters Josh Saul and Celeste Katz were all fired on Feb. 5. Veteran Newsweek journalist Matt Cooper also resigned, along with several other writers, in February, as reports emerged of a punishing workplace culture and intense traffic demands on writers. 

In late January, Newsweek Media Group co-owner and CEO Etienne Uzac and his wife, Marion Kim, both resigned. Kim served as head of finance for the media group.