IAC/InterActiveCorp's (IACI) Daily Beast's editor-in-chief Tina Brown announced to step down from her post. This was after Brown announced to pursue a new venture. Brown's exit marked a tumultuous tenure that included the purchase and sale of Newsweek magazine.

Brown said in a statement today that she wanted to build on Brown's Women in the World conference that would include summits, salons and flash debates. In her next venture, Brown wanted a combination of both editorial control and business, said a person who was familiar with the matter but asked not to be identified as the plans were held private in nature.

Tina Brown was the former editor of the New Yorker and Vanity Fair. She stated the Daily Beast in 2008 along IAC Chairman Barry Driller. The two executives aimed to create a source of breaking news and commentary online. In 2010, IAC acquired a stake in Newsweek and combined it with Daily Beast. After the Daily Beast had struggled to make profit, IAC sold Newsweek to IBT Media last month without disclosing the sum of the deal.

In a statement Tina Brown said, "I leave The Daily Beast knowing it has never been better. I am proud, too, of what we did with Newsweek in the battle we waged to save it from the overwhelming forces of media change."