Newsweek is an American weekly newsmagazine published in New York City. It is distributed throughout the United States and internationally. It is the second largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence'. Newsweek is published in four English language editions and 12 global editions written in the language of the circulation region. Recently, the magazine's owner The Washington Post Company has stated the publication has been losing profit. The company overhauled the magazine in May, 2009, refocusing its content and using higher-quality paper, to target a smaller and more "elite audience" and to identify itself as a "thought leader". To sustain its level of journalism with a reduced guaranteed circulation, Newsweek plans to eventually increase prices. Newsweek magazine was launched in 1933 (but really went into effect in 1935) by a group of U.S. stockholders "which included Ward Cheney, of the Cheney silk family, John Hay Whitney, and Paul Mellon, son of Andrew W. Mellon", according to America's 60 Families by Ferdinand Lundberg. The same book also noted in 1946 that "Paul Mellon's ownership in "Newsweek" apparently represented "the first attempt of the Mellon family to function journalistically on a national scale."

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