IBT spun Newsweek out as a separate company in the midst of charges of financial corruption. The new CEO of Newsweek, Dev Pregad was also a part of the senior management team at IBT, so he may be implicated in the fraud that is alleged to have taken place there. The spin out was in 2018, as were the legal troubles.
Newsweek Media Group Splits Into Two Companies -- Newsweek & IBT Media
Where it gets weird is that IBT isn't as normal a publishing house as the name implies. In fact it's cult-linked. Here is an interesting and informative article about IBT circa 2014 from Mother Jones (yes, a Leftist source, but then Newsweek is also clearly a leftist source): Who’s Behind Newsweek?
Post the 2018 split here is the arraingement (per the previous article):
Dev Pragad leads Newsweek as Chief Executive Officer; Johnathan Davis becomes CEO of IBT Media. Pragad and Davis will be co-owners of Newsweek, but, the company said in a statement Wednesday evening, Davis has no operational role in Newsweek.
The most recent and interesting article I could find on the status of Newsweek was this one from a web magazine called "The Outline". What the hell is going on at Newsweek? and dates from Feb. 2018. It's a fun read.
Obviously this is a top news story today. You can pretty much pick your outlet to read about it. You can go establishment mainstream media, you can go Fox, you can go further left or right.
- Fox News: Trump gives AG Barr authority to declassify documents related to 2016 campaign surveillance
- Washington Post: Trump gives Barr power to declassify intelligence related to Russia probe
- Chicago Tribune: Trump gives AG William Barr new powers to release highly classified information related to Russia probe
All of these would do a better job of reporting the basics of this story. The Newsweek article is particularly horrible, as it's almost 100% attack comments from anti-Trump hysterics. It's pure vitriol and propaganda.
Thanks for posting it for us.