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Recent Company News from IBT Media

Newsweek Reorganizes Operations in Europe

Less than 18 months after Newsweek made a triumphant return to print following an ill-fated merger with the Daily Beast and a departure from newsstands, the magazine is reorganizing its operations in Europe.

IBT Media, which bought the magazine in 2013, is doing away with the position of editor-in-chief for its European edition, and Richard Addis, who held that title, is exiting the magazine. Newsweek is instead putting editorial control for Europe in the hands of its New York-based Editor-in-Chief Jim Impoco. Mr. Addis couldn't immediately be reached for comment.

Several other back office jobs may also be moved to New York.

"We are looking for efficiencies, but this doesn't change the way we view Europe strategically," said Johnathan Davis, co-founder and chief content officer at IBT Media. "We feel that as we move forward, we need to unify our editorial platform."

Mr. Davis said a separate European edition will continue to be printed and that the magazine will maintain editorial and ad sales teams in its London offices.

Newsweek's change in direction in Europe was earlier reported by Politico Europe.

In April, Newsweek relaunched an Asian edition, making it a globally-available magazine once again following returns to print in Europe and the U.S. in early 2014. That month, the magazine also announced the expansion of its European staff, launch of European-focused apps and the creation of two new sections for the magazine and online editions.

At the time, IBT said Newsweek had about 100,000 print readers in the U.S. with about 70,000 more in Europe and would target an initial print run in Asia of about 30,000 copies. Newsweek's circulation is not independently audited. The magazine has about 60 staffers worldwide.

CORRECTION: An earlier version of this story misspelled Johnathan Davis' name as Jonathan.