Called prospect of publishing print magazine on its own a 'fool's errand'; does not 'have great expectations' about success.

One of the Daily Beast and Newsweek's marquee writers is leaving to start his own company.

Aereo has won a significant ally in the media mogul's fight against the major TV networks, which are opposing the fledgling service in the courts.

Newsweek will end its print publication after 80 years and shift to an all-digital format in early 2013.

Newsweek's last U.S. print edition will be its Dec. 31 issue.

Where some see a publishing industry in tumult, Scott Rudin and Barry Diller see opportunity.

Diller's offer is at least $20 million more than Answers offer.