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The world-famous current magazine "Newsweek" has it will stop printing its publication at the end of the year and will become online-only. The magazine was in 1933 and has been in for the past 80 years. However, rising costs of publishing and a fall in the number of advertisers to buy space in newspapers and magazines a move to a digital version. The of subscribers has also halved from its 2001 of over 3 million to 1.5 million today. The transition has been in the for a number of years. In 2010, Newsweek merged with the Internet news site "The Daily Beast" which has over 15 million a month.

The switch to an online-only is expected to revive Newsweek's fortunes. It was in trouble in 2010 when its revenue nearly 40 per cent in two years. It was saddled with and its owner, The Washington Post Company, sold the company for just $1.00. The Daily Beast's Tina Brown now runs both publications. She said profit had to come before "the of print". She told reporters: "We must sustain the journalism that gives the magazine its - and embrace the all-digital . This decision is not about the quality of the or the journalism - that is as as ever. It is about the challenging economics of print publishing and distribution."