Newsweek jettisons editors who investigated its parent company's finances

Newsweek faces internal troubles

Top editors at Newsweek have been let go from the publication after investigating the financial woes of parent company Newsweek Media Group.

Three employees, editor in chief Bob Roe, news director Kenneth Li and reporter Celeste Katz were fired from the company when delving into its situation at Newsweek, according to CNN.

The 85-year-old American news magazine has been rocked by the dismissals at the top tier, which were sparked by a raid from the Manhattan district attorney on its headquarters last month (18 January). Several servers were taken as part of an ongoing investigation into the publisher’s finances.

While some employees were sent home early on Monday, political editor Matthew Cooper resigned, praising the investigation into Newsweek’s affairs.

On Twitter, he said: “I'm resigning from Newsweek at the end of business today, although perhaps that's moot since the staff has been sent home and the magazine, for all we know, doesn't exist.”

Reporter Katz tweeted: “My warmest thanks to the brave Newsweek editors and colleagues who supported and shared in my work — especially our recent, difficult stories about the magazine itself — before my dismissal today. I'll sleep well tonight... and I'm looking for a job!"

Nancy Cooper fills in as new acting editor.

Get The Drum Newsletter

Build your marketing knowledge by choosing from daily news bulletins or a weekly special.