Skadden, Williams & Connolly Advise Newsweek Deal

Law360, New York (November 12, 2010, 12:57 PM EST) -- Newsweek magazine and website The Daily Beast will combine their operations as part of a 50-50 joint venture that stakeholders say will provide the weekly news magazine with a shot of adrenaline and increase the versatility of the news and culture website.

The publications on Friday announced that they were merging to form The Newsweek Daily Beast Co., which will be owned equally by Newsweek owner Sidney Harman and IAC, The Daily Beast's parent company.

Tina Brown will remain editor in chief of The Daily Beast...
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