Newsweek launched its inaugural issue on February 17, 1933, featuring a speech by the new German Chancellor, Adolf Hitler, as well as the election of Franklin Roosevelt. The Washington Post's parent company acquired the magazine in the 1960s, and Newsweek became a go-to source for current affairs analysis and opinion. He applied a liberal bent to his coverage of politics and war. Those were the days when good content was worth the wait. Newsweek flourished in the 1960s, covering black America and the civil rights movement, the counterculture in the arts and on campus, the space program, and providing bylines of individual writers and critics. Newsweek was against the war and received awards and circulation gains for this position (Shufelt, 2007). In 1983, Newsweek changed its editorial approach, wanting to move away from the traditional news magazine format. The parent company, Washington Post Company, had experienced major publishing failures, losing $22 million on Inside Sports magazine. The heads of Inside Sports were fired and a new editor-in-chief, William Broyles, Jr. was hired. Newsweek intended to be more “adventurous” and would feature writing by individual writers rather than group journalism (Diamond, 1983). Newsweek was known as a knockoff of Time – with Time launching ten years earlier. Their circulation in 1983 was 4.3 million for Time and 3 million for Newsweek. From its inception, Time was a Wall Street Republican and Newsweek supported FDR. But the New Deal pushed Newsweek to the right of Time for a short time (Diamond, 1983). With the arrival of the Internet and the flow of information in real time, paid circulation fell from 3.2 million to 1.5 million. Newsweek tried to reinvent itself but circulation losses continued. In 2010, Washington Post Co. sold Newsweek to Sidney Harman, the 92-year-old co-founder of Harman Kardon, for $1 and the assumption of his debt. Newsweek merged with the Daily Beast, an online publication led by editor-in-chief Tina Brown who assumed the position of editor-in-chief of Newsweek. Harmon died in 2011. Harmon's family initially promised to continue supporting the publication, but abruptly halted its funding after apparently taking a dim view of Newsweek's sensationalism. The Tina Brown era was one of blatant provocation. The scandalous covers overshadowed the measured tone of the content on its pages. President Barack Obama was in attendance, adorned with a rainbow halo and declared "the first gay president ».