The Daily Beast Isn’t Going to Be Profitable Anytime Soon

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Earlier this month, IAC's Barry Diller sold off the remains of money-losing zombie Newsweek, leaving editor Tina Brown free to focus on making the Daily Beast a success. While company representatives say both the site's ad revenue and traffic are on the rise, Adweek reports that "knowledgeable sources" believe the Beast is still "on track to lose as much as $12 million this year." Brown's Beast contract reportedly ends in January; whether she'll stick around to be called another Diller "mistake" is unclear.