A pair of high-profile media veterans are taking charge at The Daily Beast.
IAC says that it has formed a “strategic partnership” in the publication with Ben Sherwood, the former president of Disney’s TV group (and the former president of ABC News) as well as Joanna Coles, the former chief content officer for Hearst and editor-in-chief of Cosmopolitan.
Sherwood will be The Daily Beast‘s CEO and publisher, with Coles serving as its chief content and creative officer. In a statement, Coles said the new team would be “bringing The Beast back to its rebel roots and will build on its beloved DNA to make it even beastier.
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“Our fearless investigative team will break even more stories on the end of democracy,” she added. “And obviously our Chief Fruit and Vegetable Correspondent is moving to Montecito and will be on 24/7 stand-by for the launch of the American Riviera Orchard.”
IAC, of course, founded The Daily Beast in 2008 under Tina Brown. The New York Times previously reported on the deal.
“These are tough times for digital journalism, but the combined experience, expertise and energy of Ben and Joanna have made me an optimist about their ability to make The Beast an enduring and successful enterprise,” said Barry Diller, chairman and senior executive of IAC, in a statement.
Sherwood launched a youth sports startup called Mojo after leaving Disney, a business that he sold last year to the software firm TeamSnap. Coles left Hearst in 2018 and has been advising a number of media businesses and serving on the boards of companies like Snap.
“Timing is everything, and the current media hellstorm feels like the ideal moment to jump back into journalism,” added Sherwood. “Yes, everything feels upside down right now with busted business models and transformative technology. With so much disruption — or maybe because of it — we believe this is the ideal entrepreneurial opportunity to deliver on The Beast‘s insurgent promise. We are excited to work with the dynamic team at The Beast, cultivate and recruit great talent, and help unleash its populist potential.”
“Tina Brown’s original vision of The Beast as a sophisticated tabloid is even more relevant today,” added Coles. “Our pirate mission is to cover the stories and people that grab us and have fun along the way. Yes, these are serious times and we will track the conflict flaring in the Middle East, but our arrival at The Beast also coincides with the opening of the Trial of the Century and so you can expect all out coverage at the courthouse with our Senior Where-is-Melania Reporter and our Chief Hope Hicks Correspondent.”
