The Newsweek/Daily Beast owner, Barry Diller, shared his regrets today on Bloomberg TV:

“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.”

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