Last month, IBT Media acquired Newsweek from IAC/InteractiveCorp. The company named former Thomson Reuters Corp. editor Jim Impoco as the new chief of the magazine. Impoco would become the new Newsweek editor-in-chief after four years as an enterprise and executive editor at Thomson Reuters Digital, according to a statement today. His employment record included Conde Nast Portfolio, the New York Times and Fortune magazine.

The sale of Newsweek in August from IAC was pushed through without disclosing the financial terms of the deal. The move was to integrate the 80 year old publication with IAC's Daily Beast Website. In the beginning of 2013, Newsweek became an online-only magazine as the company wanted to pare its losses. IBT said last month that it planned to make the publication profitable again as a digital brand.

Etienne Uzac, co-founder and chief executive officer of IBT Media said, "Jim has a remarkable track record of leadership in journalism and a deep understanding of the digital industry, which is the exactly what will take Newsweek to the next level. We look forward to his many contributions as editor-in-chief."