Tina Brown may be Newsweek’s next editor

Tina Brown, the former editor of Vanity Fair and the New Yorker, could soon add another iconic magazine title to her resume: Newsweek.

The Daily Beast — which Brown launched two years ago with the backing of mogul Barry Diller — is currently in partnership talks with Newsweek. Audio magnate Sidney Harman agreed to purchase Newsweek in August and recently closed on the magazine for just $1 (though he also took on the magazine's $47 million in liabilities).

The Wall Street Journal reports that a deal's not done yet and asked "whether a merged operation would be big enough for the three outsize personalities that such a deal would bring together." It's a good question. Brown herself is something of a force of nature, and in this arrangement, she'd have two bosses, Diller and Harman.

Brown confirmed reports of talks between the two sides in a Q&A last week by coyly acknowledging that there were "some interesting discussions going on." Interesting.

It's assumed that Brown, famously dubbed the "queen of buzz," would bring some star wattage to Newsweek. The magazine has been hemorrhaging high-profile writers and editors since it went on the market in May. Among the departed: Editor Jon Meacham, Newsweek International editor Fareed Zakaria, columnist Howard Fineman, editor-at-large Evan Thomas, diplomatic correspondent Lally Weymouth, economics editor Daniel Gross and investigative reporters Mike Isikoff and Mark Hosenball.

The Web-only Daily Beast could provide valuable content to fill out Newsweek's print publication. And the deal may also reduce costs through consolidation of departments. That would be welcome news for both money-losing outlets. The Journal reports that Newsweek is expected to lose $20 million this year, with the Daily Beast on track to lose $10 million.

Still, Brown isn't only in the news Monday because of the Newsweek deal. She also found time to "chat" with Arianna Huffington over IM about a Guardian report on tension between the two women.

Both Huffington and Brown aren't about to let a juicy bit of media gossip go to waste. So they turned the so-called feud into content by posting the leaked IM exchange -- the Daily Beast with "Editrix Showdown!" and the Huffington Post with a tease about "Leaked IMs About The Tina Brown/Arianna Huffington Feud!"

(Photo of Brown with her husband, journalist Harry Evans, in February: AP/ Evan Agostini)