Daily Beast To Lose As Much As $12 Million This Year: Report

Daily Beast Reportedly On Track To Losing Staggering Amount Of Money

The Daily Beast could lose as much as $12 million in 2013, sources recently told AdWeek.

The publication reported the number in a piece published Monday, writing, "Despite those positive signs, the Beast is believed to be on track to lose as much as $12 million this year, per knowledgeable sources, and IAC chief Barry Diller's goodwill may be running out."

Those "positive signs" included ad revenue increasing 23 percent and average traffic increasing 28 percent compared to last year. The piece discussed what Tina Brown might do if she leaves the Daily Beast when her contract expires in January. Read the full piece here.

It has been a busy year for Brown, who saw IAC sell Newsweek to IBT Media. When the magazine stopped printing at the end of last year, she had acknowledged that it was an "insane" idea to have taken over the magazine in the first place. Earlier this month, however, she defended her editorship, saying that the experience "was really exhilarating. We did great journalism."

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