Appointment Affirms Move Towards a Unified Newsweek Brand Across the Globe

IBT Media, the global digital media company and owner of Newsweek and International Business Times (the "Company"), today announced that Newsweek has appointed Matt McAllester, current Editor, Newsweek International, as Global Editor in Chief, Newsweek, effective today. The move will help Newsweek accelerate its vision to bring a more consistent and unique global perspective to its readership around the world. As part of the transition, Jim Impoco, Editor in Chief, Newsweek will step down. McAllester plans to relocate to New York this spring, and Newsweek International will be actively seeking a new London-based editor.

"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 of Newsweek 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."

Today's 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."

About IBT Media

IBT Media is a fast-growing digital media company headquartered in New York City. It was founded in 2006 with the launch of the International Business Times, a digital news publication that today reaches an average of 57+ million readers each month via eight separate editions, in four languages. Market-specific editions are now available in the U.S., the UK, Australia, China, India, Italy, Japan & Singapore. Today, IBT Media owns and operates a total of 14 digital properties including the International Business Times, Design & Trend, Fashion Times, iDigital Times, Latin Times, Medical Daily & the iconic Newsweek brand which it bought in 2013 as a digital-only property before enhancing the offering with the reintroduction of the print edition. Newsweek now publishes a U.S. and International edition weekly in English. The international edition - branded as Newsweek International -serves the Europe, Middle-East, Africa and Asia-Pacific regions while language-specific editions are available in Japan, Korea, Latin America, Pakistan, Poland and Serbia. A separate English-language edition is also published for the Middle East. The print edition of Newsweek is now available in 68 territories while round-the-clock- coverage on the latest breaking world news can be found at newsweek.com.

Contact:

Mark Lappin
T: +44 (0)20 3040 6989
M: +44 (0) 7823 770 922
m.lappin@newsweek.com

Source: IBT Media