Newsweek Names New Editor-in-Chief

NEW YORK — Newsweek has appointed Matt McAllester, current Editor, Newsweek International, as Global Editor in Chief, Newsweek, effective immediately. The current Editor-in-Chief of Newsweek, Jim Impoco, is stepping down. McAllester plans to relocate to New York this spring, and Newsweek International will be actively seeking a new London-based editor.

IBT Media is the owner of Newsweek and International Business Times.

“On behalf of everyone at IBT Media and the entire staff of Newsweek, I would like to congratulate Matt on his new role,” said Dev Pragad, Chief Executive Officer of IBT Media. “Matt has overseen the revitalization of our Newsweek International property, and I am confident that his extensive experience as an international journalist will help Newsweek realize its editorial promise as a leading global source of news, information and culture for consumers and businesses around the world.

I would also like to extend my deepest thanks to Jim on behalf of our entire organization for his years of remarkable stewardship ofNewsweek in the U.S. Jim literally brought this iconic brand back to life and in many ways it is better than it has ever been. His commitment to the highest standards of journalism, his sharp eye for great narrative stories and his knack for hiring fantastic writers have made him a legend in the news business. He leaves an inspiring legacy at Newsweek that we will work hard to maintain.”

Newsweek plans to increase its coverage of East Asia, India, developing parts of Africa and Europe, and will likely add to its editorial team in both the U.K. and the U.S.

“I’m very excited—and honored—to take on this new role,” said McAllester. “My priority will be to continue the superb work of Jim and the Newsweek staff in New York, London and elsewhere. Newsweek is as editorially strong as it has ever been. We have so many opportunities to build on that success and help Newsweek’s extraordinary reporting, analysis and storytelling reach an ever-growing global audience.”

The announcement follows a number of recent steps the Company has taken to invest in Newsweek and its other world-class properties and to find new ways to reach consumers and businesses on multiple platforms.

Pragad added, “We have made terrific progress over the past several months putting our business on a stable financial footing, improving our content offerings and expanding the ways in which we deliver our world-class content to consumers and businesses. The joining of our Newsweek editorial teams, the recent launch of Newsweek Events and the appointment of Alan Press as President, IBT Media, are all important steps to help us achieve our potential as a unified, global digital media organization.”