Chaos at Newsweek: Top editors suddenly out

CNN Money ^ | Feburary 5,2018 | Hadas Gold

[Hojczyk]

Employees at Newsweek have been told that editor-in-chief Bob Roe and executive editor Ken Li have been fired, sources with knowledge of the situation told CNN.

A reporter, Celeste Katz, who had written articles about financial issues at the magazine as well as an investigation by the Manhattan District Attorney's office into its parent company, Newsweek Media Group, was also let go, the sources said.

Staff in Newsweek's New York offices were told to stop working and go home for the day on Monday afternoon, a source close to the newsroom told CNN. Katz was seen cleaning out her desk, the source said.

"Can confirm I was fired. I know nothing else. Can say nothing else yet," Roe told CNN in an email.

The news comes during a turbulent time for the magazine. Just last week the co-owner and chairman of Newsweek Media Group, Etienne Uzac, and his wife Marion Kim, who acted as the company's finance director, both stepped down.

Last month the Manhattan District Attorney's office raided the company's offices, taking several servers. Newsweek itself, in a story co-written by Katz, reported that the raid was part of a long-running investigation into the company's finances.

Li could not immediately be reached for comment, though he tweeted, "What a day to leave my charger at home." Katz declined to comment. A spokesman for Newsweek said the company would not have any comment on personnel matters.

[maxwellsmart_agent]

When you look at the crap that has been coming out of Newsweek lately, it is no surprise.

[RooRoobird20]

My brother is an executive editor of a major newspaper. He had to lay off seven from the news room last week. It was purely a matter if cutting costs—fast.

[confederatecarpetbag]

Raid sounds like it could be tied to money laundering. Just a hunch