NEW YORK (CBSNewYork/AP) – After 80 years on the newsstand, Newsweek announced Thursday that it will cease publishing a print edition at the end of the year.
The magazine will transition to an all-digital format starting in 2013, catering to the growing tablet and online audience.
“We are transitioning Newsweek, not saying goodbye to it,” wrote editor-in-chief Tina Brown. “We remain committed to Newsweek and to the journalism that it represents. This decision is not about the quality of the brand or the journalism—that is as powerful as ever. It is about the challenging economics of print publishing and distribution.”
Newsweek’s last U.S. print edition will be its Dec. 31 issue.
Newsweek’s decision does not come as a complete surprise. Barry Diller, the head of the company that owns Newsweek, announced in July that the publication was examining its future as a weekly print magazine. Diller said then that producing a weekly news magazine in print form wasn’t easy.
The announcement of the change was made by Tina Brown, editor-in-chief and founder of The Newsweek Daily Beast Co., on The Daily Beast website Thursday.
“In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format,” she said.
Brown said staff cuts are expected, but didn’t give a specific figure. She also said that Newsweek’s editorial and print operations would be streamlined in the U.S. and abroad.
Brown said that the online publication will be called Newsweek Global and will be a single, worldwide edition that requires a paid subscription. It will be available for tablets and online reading, with certain content available on The Daily Beast website.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)