Newsweek and its Turnaround Strategy

What’s Newsweek’s turnaround strategy again? Focus on “deep reporting” and investigative stories: “create your own weather if you must”?

Well, this was actually quoted of its Editor-in-Chief Jim Impoco when the weekly news magazine planned on getting back on print after a 14-month hiatus. Incidentally, Newsweek then got into a controversy after a purported report on Bitcoin’s founder.


Newsweek's Jim Impoco

Oh, was this what Impoco referred to as deep reporting and “creating your own weather”? If this is the case, Newsweek could get into lawsuits unless the subject likes publicity, any kind of publicity.

Anyway, Newsweek wanted to come back with a loud roar, and their means to doing so was in trying to reveal who the founder of Bitcoin was. And as Impoco implied – all roads led to Dorian Satoshi Nakamoto, a train collector from California. He was firm on Leah McGrath Goodman’s interview and even claimed to have gotten help from MIT.

“I am no longer involved in that and I cannot discuss it. It’s been turned over to other people. They are in charge of it now. I no longer have any connection.” This was the said response of Nakamoto as claimed by Goodman.. to which Nakamoto says he was misunderstood.

You know what could confirm this? A recording.. especially if Goodman directly asked Nakamoto if he’s Bitcoin’s founder, and not simply asking who’s handling its operations or something like that. For one, operations management could be handled by a designate – where Nakamoto could be that designate and not necessarily its founder.

Nevertheless, this article is more than just sifting this Bitcoin founder report but checking in on Newsweek’s turnaround strategy. However, with Impoco’s 2-pronged attack and a doubtful story they started off with.. could Newsweek just be following the tracks of Rupert Murdoch’s News of the World?

In media, if you can not get the story ahead of everyone else then just be creative in expounding it. And in both cases, be “responsible and truthful.”

What’s your take?