Newsweek bought out by IBT Media

Newsweek has been bought out by IBT Media from IAC/InterActiveCorp (IACI). IBT believes that it is capable of making the brand very profitable. IBT Media did not disclose the terms of the deal. IBT is a 100 percent digital company. The 80…

Boston Globe sold for just $70m

The Boston Globe has been sold by The New York Times for just $70m, a fraction of the $1.1bn it paid for the newspaper two decades ago. The Boston Globe has been sold to John W Henry, who owns the Boston Red Sox baseball team and Liverpool…

Jobless rate drops to 7.4%, USA

The American economy added 162,000 jobs in July, bringing the jobless rate down to 7.4%. In July 2012, 8.2% of U.S. adults were jobless. Economists were largely disappointed with yesterday’s figures. A good chunk of these new jobs came from…