Newsweek Media Group Announces Strategic Changes To Position Brands For Future Growth

NEW YORK, March 6, 2018 /PRNewswire/ -- Newsweek Media Group (NMG) is announcing a series of strategic structural changes that will see its International Business Times and Newsweek brands spun off into separate operating entities in a move designed to position its portfolio of news and information brands for future growth. 

Under the changes, the company is boosting the workforce on its flagship Newsweek brand, reallocating significant resources to strengthen its standing as a leading destination for global news and current affairs analysis. The additional resourcing will affect both the magazine and online operations. 

In the new structure, Nancy Cooper assumes the role of Global Editor-in-Chief at Newsweek reporting to Chief Content Officer, Dayan Candappa and Newsweek will also be given its own dedicated sales and operations teams. "I'm delighted to take on this role," said Cooper. "I look forward to the challenge of building on Newsweek's respected journalistic heritage while leading our global digital expansion."

Newsweek is now reaching the highest-ever global audience in its 85-year history and, across the group, it is now also the company's highest revenue-generating site.

"Tomorrow marks four years to the day since we brought back the print edition of Newsweek magazine and in the digital space, Newsweek.com continues to experience phenomenal year-on-year growth," said Dev Pragad, Chief Executive Officer at NMG.  "Newsweek is the jewel in our crown and this strategic investment will allow us to continue this growth trajectory and further develop and build on the success we have achieved to date."

The International Business Times (IBT) product-offering will also be brought together under one global editorship. Julian Kossoff who was previously Managing Editor of the UK edition for more than six years, moves to the role of Global Editor-in-Chief at IBT, also reporting to Candappa.

"I am thrilled to have been offered this challenge at a time when there are so many compelling stories to tell around the world," said Kossoff. "Having built a valued relationship with millions of readers and knowing what they want has been central to our success thus far. I look forward to building on that and leading the charge on a global scale."

As part of these changes, the company also plans to establish an editorial and business advisory board with input from top industry professionals. Full details will follow in due course. 

Media Contacts:

Mark Lappin | Director of Communications
m.lappin@newsweekgroup.com
+44(0)20 3040 6989

Ken Frydman | Source Communications
ken@sourcecommunications.net
+1 (917) 626 4270

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SOURCE Newsweek Media Group