Newsweek plans to end its print publication
after 80 years and will shift to an all-digital format aimed at online
users starting in early 2013. Job cuts are expected.
Newsweek's last U.S. print edition will be its Dec. 31 issue.
With more and more
consumers on the go and using their cell phones and tablets to receive
the news, media organizations have had to increasingly shift more of
their emphasis online.
SmartMoney, for example,
announced in June that it was shuttering its print publication in favor
of a digital format. Dow Jones & Co., a unit of News Corp., said at
the time that 25 positions at SmartMoney would be eliminated.
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.
"We are transitioning Newsweek, not saying goodbye to it," she said.