Business

Newsweek/Daily Beast merger delayed

Laura Donovan Contributor

NewsBeast isn’t ready to come out of the cage quite yet.

While the Newsweek/Daily Beast merger was expected to be wrapped up by late November or early December, it has been delayed and is not closing until later this month.

Vacationing Newsweek owner Sidney Harman said he expects the deal to be finalized in “mid-January.” There was no word from Barry Diller, chairman of the InterActiveCorp/IAC side of the new joint venture, which owns the Daily Beast.

Most observers blame legal and paperwork delays, combined with the usual holiday slowdown rather than any serious snags that could derail the deal reached in early November.

Full story: Delays dog unleasing of NewsBeast