Daily Beast's Tina Brown To Leave Website
Tina Brown is stepping down as editor of the website she launched, The Daily Beast, to form a new media operation.
Ms Brown started The Daily Beast - which combines Washington politics, fashion and culture stories with some high-profile bloggers - in 2008.
She also oversaw the ill-fated merger of Newsweek and The Daily Beast website.
"Exciting news ... sad 2 leave Beast but change is good," Ms Brown said on Twitter.
In a separate statement, she said she is launching Tina Brown Live Media.
The company will host debates and summits, including the Women in the World conference, which she launched in 2010.
The Daily Beast said Ms Brown's contract expires in January and was not going to be renewed.
The Beast will continue to operate under IAC/InterActiveCorp, the internet company that owns it.
One of the industry's best-known names, the English-born Ms Brown is a former editor of Vanity Fair and The New Yorker.
She presided over the end of the print run for Newsweek, which IAC bought in 2010 before merging it with the Beast.
The money-losing magazine went online-only last year and was sold IBT Media last month.