NEW YORK — IBT Media Inc., the global digital media company that founded the International Business Times and acquired Newsweek in 2013, has sent a final notice to NW Media Holdings Corp. stating the 2018 Membership Interest Purchase Agreement (MIPA) intended to transfer Newsweek LLC out of IBT was never consummated and is irrevocably null, according to a letter dated April 24, 2026 and delivered to NW Media's offices at 1 World Trade Center on Monday morning.
The letter, signed by IBT Media President Etienne Uzac and addressed to NW Media President Dev Pragad, characterizes the September 13, 2018 transaction as one in which "one or more required conditions were never satisfied, meaning the transaction never took effect." IBT says it is asserting its rights as the owner of the Newsweek brand and assets.
