“I don’t have great expectations”


Barry Diller, the billionaire chairman of IAC/InterActiveCorp (IACI), said he regrets his decision to acquire Newsweek magazine, which he merged with the Daily Beast website in 2010.

“I wish I hadn’t bought Newsweek,” he said today in an interview on Bloomberg Television. “It was a mistake.”

Not sure why anyone would think a printed weekly magazine of news would have any commercial value today.

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