Newsweek will go out of print at the end of the year, becoming an online publication only, the company announced Thursday.
The transition will bring job cuts, said Tina Brown, editor-in-chief.
On its official Twitter feed, the company announced:
After 80 years in print, Newsweek will go all-digital. The last print edition in the U.S. will be our Dec. 31 issue nswk.ly/RWjpME—
(@Newsweek) October 18, 2012
â€œIt is important that we underscore what this digital transition means and, as importantly, what it does not," Â Brown, who is also founder of The Newsweek Daily Beast Company, wrote in a post at thedailybeast.com. "We are transitioning Newsweek, not saying goodbye to it."
The decision "is about the challenging economics of print publishing and distribution," she wrote.
"Regrettably we anticipate staff reductions and the streamlining of our editorial and business operations both here in the U.S. and internationally," Brown added.
Full coverage from CNNMoney.com is here.