Newsweek: after 80 years says farewell to paper – will be online only

newsweek goes only online stefano paganiniSign of the times – as they say.

Newsweek, after 80 years, will cease publishing on paper and will survive in the online version only.

According to Bloomberg, Tina Brown, current editor-in-chief, has tried almost everything to keep it alive:

The magazine’s circulation has dropped by 42 percent to 1.5 million from 2009, according to the publisher’s statement with the Audit Bureau of Circulations.

Citing printing cost and declining advertisers (compared to the growing online trend), Barry Diller’s IAC will focus on the online release, starting from Jan 1st 2013.

What will be the future for current Newsweek readers (just like me?):

Newsweek expects “at least hundreds of thousands” of current print subscribers to convert to the digital edition, Baba Shetty, chief executive officer of Newsweek Daily Beast Company, said in an interview.
Brown said more and more readers are asking for Newsweek online.
“The readers have been wanting this and IAC, this whole company is geared toward digital and we really wanted to embrace our future now,” she said.

Full Bloomberg coverage on Newsweek going online is available here.

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