Newsweek has announced that after 80 years of being in print, it will go digital-only later this year. The decision, taken by the prestigious weekly, is due to the tightening of the media business.
"We're ferrying Newsweek, we're not saying goodbye," he explained Tina Brown, director and founder of the online company Newsweek Daily Beast Company, in a statement published on the Daily Beast website. “The decision – continued Brown – has nothing to do with the quality of the brand or the journalism offered. It is rather due to the prohibitive costs of print media and distribution”.
Newsweek, which has enjoyed a long-running feud with rival Time magazine, has been steadily losing money in recent years. Brown has warned that the merger of the Daily Beast's print and online operations, under the masthead of Newsweek Global, will lead to the layoffs of some staff both in the United States and internationally. Brown announced that digital Newsweek will be available via web and tablet with a paid subscription, while a selection of the content can be read on The Daily Beast website.
http://www.chinapost.com.tw/business/company-focus/2012/10/19/358172/Newsweek-ends.htm
