There’s no fool like an old fool and that’s what many are saying about Barry Diller, the dude who bought Newsweek, a weekly news magazine.. Yes I said ‘weekly.’ Only to retain the digital version and discontinue the WEEKLY print version shortly there after.. Yes I said ‘weekly.’
And now if Diller hadn’t already been foolish enough, he’s coming out and agreeing with his critics in the press, which can’t be good for business..
“There are some magazines that have no competition essentially in their field, luxury magazines,” the Washington Free Beacon reports Diller said. “Advertisers must advertise in them. But for a news magazine … it was not possible to print it any longer. So we said we will offer a digital product. We have a very, very solid newsroom, and we’ll see. I don’t have great expectations. I wish I hadn’t bought Newsweek. it was a mistake.” Duh comes to mind..
Pity the Bloomberg reporter wasn’t sharp enough to follow up on his bombshell..