Newsweak still exists??
why?
Because someone thought it was worth paying $1 for the name.
I guess as of last year, Newsweak is again independent of Daily Beast.
http://en.wikipedia.org/wiki/The_Newsweek_Daily_Beast_Company
Tina Brown, who co-founded The Daily Beast, acts as editor-in-chief for both Newsweek and The Daily Beast.[1]
On August 3, 2013, IBT Media announced it had acquired Newsweek from IAC on terms that were not disclosed; the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast.[6]
http://www.newsweek.com/about-newsweek