Newsweek announced today that it will transition to an online-only publication next year, ending its 80-year print history.
The last print edition in the U.S. will be the Dec. 31 issue, according to a statement by Tina Brown, editor in chief of The Newsweek Daily Beast Company.
Brown said the growing use of tablet computers by readers, combined with continued weakness in print advertising, forced the decision, according to CNN.com.
"It is important that we underscore what this digital transition means and, as importantly, what it does not," Brown said in a a statement. "We are transitioning Newsweek, not saying goodbye to it. We remain committed to Newsweek and to the journalism that it represents. This decision is not about the quality of the brand or the journalism -- that is as powerful as ever. It is about the challenging economics of print publishing and distribution."
The magazine was sold to audio pioneer Sidney Harman on Aug. 2, 2010, for $1 in exchange for assuming the magazine's financial liabilities, after being owned by the Washington Post for decades.
The weekly merged with The Daily Beast in February 2011, which was a joint venture between IAC/InterActiveCorp. IAC/Interactive took a controlling interest in the joint venture earlier this year, according to CNN.
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