The curse of Newsweek seems to have struck again with Europe editor Richard Addis, formerly editor of the Daily Express and Toronto Globe and Mail, leaving and its eight London-based editorial staff facing redundancy.
Owner International Business Times has denied a report in Politico that the European edition is closing, saying it will be edited from the US while it looks for another Europe editor, but we’ll see.
Under Addis the Europe edition claimed to be selling 70000 copies although not many ads. Editorially it certainly had its moments: an investigation of Tony blair’s Business dealings for one and also investigations into Vladimir Putin and others.
Newsweek has had a succession of owners since long-term owner Washington Post gave up on it a decade or so ago. Print advertising has been decimated by the internet and news magazines in particular have struggled to compete with 24/7 online news. Their preferred answer, long form analysis, has not, so far, resonated with the public as hoped.
Another factor is that their expensively-generated content is shared by a horde of news aggregator sites (like IBT), officially or otherwise.