Newsweek Magazine intends to start Newsweek Studios, a film and distribution company that will focus on newsworthy and documentary content from filmmakers around the world. Pierce Cravens, a producer and actor, will lead the operation and has been named president.
“We’re interested in acquiring and developing projects from emerging and established filmmakers. Our mandate includes short form and long form projects on subjects about international issues, technology, business, culture and politics,” Cravens said via email. He cited examples such as “Period. End of Sentenced,” the short-form documentary about women in India working to improve feminine hygiene that was picked up by Netflix, or “Running With Beto,” a 2019 documentary film that followed former Texas Representative Beto O’Rourke in his campaign for the U.S. Senate that aired on HBO.
Cravens has produced ventures that have been sold to Netflix, Showtime and Amazon. He recently produced “Saint Frances” and is currently in post-production on “1 Night in San Diego.” In a statement Cravens said he is, “excited about the prospect of bringing the stalwart news brand to a more diverse and broader market. It is a refreshing and unique opportunity to be involved with a historically significant publication such as Newsweek that is also so forward thinking.”
“Creating an advertising driven product for Connected Television is an important strategic effort for Newsweek as we continue to grow our brand and our audience,” said Dev Pragad, CEO of Newsweek, in a statement. “We’re excited to partner with Pierce Cravens to launch Newsweek Studios”.
Newsweek was acquired from IAC by IBT Media in 2013. In 2018 Newsweek became an independent entity.