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updated: 8/5/2013 7:09 AM

Newsweek to be purchased by IBT Media

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Associated Press

Newsweek is being sold for the second time in just a few years. The owner of the International Business Times said it's buying what is now an online-only brand for an undisclosed sum from IAC/InterActiveCorp. The publication, which once had a fierce rivalry with Time magazine, ran its last print edition at the end of 2012.

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