WASHINGTON, Oct. 18 (Xinhua) -- Newsweek, the New York-based and internationally distributed news magazine, announced on Thursday it would end its print publication and transition to an all-digital format in early 2013.
Tina Brown, the editor-in-chief and Baba Shetty, the CEO of the Daily Beast and Newsweek made the announcement through a blog post on the website The Daily Beast, which merged with the Newsweek in 2010.
The last print edition in the United States will be the December 31 issue, right before the well-known magazine turns 80 years old. Newsweek Global, as the all-digital publication will be named, will be a "single, worldwide edition targeted for a highly mobile, opinion-leading audience" who want to learn about world events.
"We are transitioning Newsweek, not saying goodbye to it," wrote the announcement, stressing the decision was not about the quality of the brand, but about "the challenging economics of print publishing and distribution.
"In our judgement, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all- digital format," said Brown and Shetty.
Since the merger, both the Daily Beast and Newsweek have demonstrated explosive online growth in the process. The Daily Beast now attracts more than 15 million unique visitors a month, increasing 70 percent in the past year alone.
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