Now Barry Diller Owns a Magazine

The line about Tina Brown’s stewardship of The Daily Beast and Newsweek has always been that it’ll continue as long as Sidney Harman and Barry Diller had bank accounts. Harman died more than a year ago; now his estate will stop paying for Newsweek. That leaves just big Barry on the hook for the two publications which are sort of one publication but not really. The good news: Barry Diller has just huge, monster bunches of cash on hand. So much cash that, at IAC, the property is considered just “one of the many small areas of investment.” Meanwhile Jane Harman, Sidney’s widow, is throwing a party for Tina Brown in Aspen, as you do.