Newsweek to Dump Print Edition at End of Year
NEW YORK—Newsweek, a newsstand staple for 80 years, announced it will cease its print publication in favor of a digital-only format in 2013. The final U.S. print edition is set to come out Dec. 31, according to The Associated Press.
The digital publication will be called Newsweek Global, with a single edition, paid subscription model, the AP said.
Many observers point to the proliferation of online alternatives to paper-based newsweekly publications—Websites, tablets, smart phones. Add rising production costs to an intolerance of week-old, printed news, and the decision became clear for parent company The Newsweek Daily Beast.
“In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format,” the company said on its Website, attributed to Editor-in-Chief Tina Brown and CEO Baba Shetty.
“We are transitioning Newsweek, not saying goodbye to it.”
The decision, which will result in an unspecified number of lost jobs, is not surprising. The parent company announced in July that it was examining its future as a weekly printed product.