Newsweek's Print Shutdown Cost $7 Million

IAC just announced its fourth-quarter earnings.

Among the New York-based Internet conglomerate's holdings, which include Ask.com, Match.com, and About.com, are a controlling stake in Newsweek Daily Beast, a publishing company which operates a magazine and online news website.

Last year, it shut down Newsweek's print edition, continuing the storied weekly only in a tablet edition.

That shutdown cost $7 million, IAC officials said, according to a tweet by Bloomberg reporter Sarah Frier.

Apropos that this was reported via Twitter: Newsweek's final print edition carried an accusatory hashtag, #lastprintissue.