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Newsweek running out of time to appoint new editor

Contracts of acting co-editors expire at the end of the year.

Newsweek's new owner Sidney Harman is running out of time to appoint a new editor for the magazine after former editor Jon Meacham quit his post to join Random House.

Currently, the acting co-editors, Dan Klaidman and Nisid Hajari, have been performing interim duties. However, the 92-year-old business magnate, who now owns Newsweek, is running out of time as the contracts of Klaidman and Hajari will expire at the end of the year.

Harman had purchased the struggling publication in September. He attributed the delay in appointing the magazine's editor to attempts to forge a merger with the Daily Beast.

The intended partnership with the Daily Beast would have installed Tina Brown as editor, but there were reports that those talks fell apart.

Harman said he expected to make the appointment latest by the end of November.

However, Harman admitted to the New York Post that he did not have any potential candidates at hand as of now.