Newsweek has lost one of its most high-profile figures to its archrival, Time.

Fareed Zakaria, a columnist for the magazine and editor of Newsweek International, will join Time as Editor-At-Large. Zakaria will write a biweekly column for the magazine.

In an announcement, Time managing editor Richard Stengel lauded Zakaria, calling him "one of the world's premier public intellectuals."

In an interview with the New York Times, Stengel also said that Zakaria was "a kind of a spokesman for a post-American world, and we think he represents an important piece of the puzzle for us."

The move also brings all of Zakaria's professional roles under one corporate roof. He already hosts "Fareed Zakaria GPS" on CNN, which, like Time, is owned by Time Warner. Time Warner announced today that Zakaria will expand his presence across the company's media platforms; he will begin producing specials for CNN and serve as a consultant for HBO's documentary unit (HBO is also owned by Time Warner).

Zakaria told the Times that the corporate synergy was one of the reasons he made the move.

"All of my work will now appear at one company, and instead of a kind of awkwardness, there is a very real synergy," he said. "There is a level of sophistication in this building about content, about the ways to promote it, that's exciting."

While Time is crowing about its hiring of Zakaria, his departure adds yet another name to the growing list of major Newsweek figures who have left the magazine in the wake of its recent struggles, and its sale to billionaire Sidney Harman. Editor-in-chief Jon Meacham is leaving, along with senior writer and editor Evan Thomas. The magazine's top investigative reporter, Michael Isikoff, has already jumped to NBC News.