Newsweek announced on Thursday Oct. 18 that it will end its 80 year print publication next year opting to go the online route with the final print of the magazine being printed on Dec. 31, 2012.
Tina Brown editor-in-chief of the publication said.
"Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night. But as we head for the 80th anniversary of Newsweek next year, we must sustain the journalism that gives the magazine its purpose-and embrace the all-digital future."
According to Brown a Pew Research survey showed that 39% of Americans get their news from an online source and goes on to say that there are expected to be 70 million computer tablet users by the end of the year.
The brand isn't only looking to capture their audience who are using more tech savvy material but it is viewed as a move to cut any losses over the years and moving forward.
Newsweek's print advertising has been in decline in recent years, dropping $334 million or 70% between 2007 and 2011 this according to CNNMoney.com.
With this move to a digital format the company will probably see a reduction in staff both aboard and in the U.S a fact that the publication calls "regrettable."
Richard Stengel managing editor of Time said on a television appearance that publishing paper versions of a magazine is expensive and points at the environmental cost.
The new online edition of Newsweek will be called "Newsweek Global."
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