After 80 years, Newsweek will be ending their print edition and going all digital. Tina Brown announced that the December 31, 2012 issue of Newsweek will be the last.
Newsweek has been facing downwards print sales for a few years now. According to Wikipedia, there’s been a “drop in worldwide circulation of 4 million in 2003 to just 1.5 million in 2010.”
In a note, co-written with Baba Shetty, CEO of The Newsweek Daily Beast Co, Tina Brown goes on to say, “our business has been increasingly affected by the challenging print advertising environment, while Newsweek’s online and e-reader content has built a rapidly growing audience through the Apple, Kindle, Zinio and Nook stores as well as on The Daily Beast. In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format,” they wrote. “This was not the case just two years ago. It will increasingly be the case in years ahead.”