Newsweek To End Print Edition

Since Barry Diller announced in July that Newsweek was examining its future as a weekly print magazine, it has been rumored Newsweek would be ending its print edition.  With decreasing sales, and magazine advertising showing steady declines, Newsweek has opted to make the jump to an all digital format.  This is a risky proposition but a gutsy move at the same time.  With the digital magazine model far from fully matured, executives at Newsweek will undoubtedly make errors but the reward, should this gamble be successful, could far outweigh the risk.  The announcement was posted on the Daily Beast, which merged with Newsweek two years ago.   The online magazine, called Newsweek Global, “will be a single, worldwide edition targeted for a highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context”.  Access to Newsweek Global will require a paid subscription of $24.99 which is the same price as the current subscription for the print edition.  A joint statement between Tina Brown and CEO Baba Shetty said, the decision was made to go to an all digital format due to the challenging print advertising environment.  Newsweek executives believe the use of tablets and e-readers will continue to grow as more products are introduced to market, i.e. the Microsoft “Surface” that will be hitting Newsstands on October 26.  As that happens, the belief is, more readers will make the jump to online content.  The final print edition of Newsweek will be December 31, ending eighty years in publication.

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