On this morning's IAC third-quarter earnings call, company chairman Barry Diller addressed last week's bombshell news that Newsweek will eliminate its print edition starting in 2013.
"We have made the tough and right decision to cease printing," he said. "We know that the results of that are going to dramatically decreases losses in the future."
He then expressed some enthusiasm about Newsweek's companion publication, The Daily Beast, which IAC launched in 2008, as well as some cautious optimism about Newsweek Global, the digital-only title that will replace its erstwhile print edition.
"We have a very, very solidly growing Daily Beast, and there's some prosect, who knows, but there's real enthusiasm for Newsweek Global. But we have no stars in any of our eyes, and our plans for next year, or for any year for that matter, are not going to relate in any way to the results from Newsweek. So it's not like we're projecting that this digital product is going to have X or Y subsciptions or whatever."