NEW YORK — The Daily Beast, a news-and-commentary website, has withdrawn from talks with Newsweek magazine about a possible merger, according to a person familiar with the matter. The two parties had been discussing a deal that would make Daily Beast co-founder and co-owner Tina Brown editor of Newsweek on top of her existing editorial duties at the website.
In recent weeks, talks have centered on the specific roles of Brown, new Newsweek owner Sidney Harman and Barry Diller, chairman and chief executive of Daily Beast owner IAC/InterActive — all of whom are heavily invested financially and emotionally in their respective news operations. Harman, a stereo magnate, recently acquired Newsweek from the Washington Post Co. for $1 plus liabilities.
The person familiar with the matter said talks broke down because the two parties couldn’t come to an agreement on governance and editorial control. Representatives of the Daily Beast and Newsweek were not immediately available for comment.
