The ink and paper version of a popular weekly news magazine is about to rise from the grave.
Last year, facing shifting trends in news consumption and the rising challenge form digital media outlets, Newsweek shut down its printed version. Now, the magazine is planning to re-launch a print version in January or February of next year, the New York Times notes.
The resurrected print edition will be positioned as a premium product, costing subscribers more than it used to. It will contain 64 pages and rely on subscription sales more than ad pages to keep it in print. Its new owner hopes to hit a circulation of about 100,000 for the print version in the first year after it is relaunched.
Newsweek was founded in 1933. In 1991, it had a high of 3.3 million readers. But the dawn of the Internet eroded its readership and advertising revenue.
In 2010, the Washington Post Company (WPO) sold the magazine for $1. In 2012, the magazine went online-only in a bid to save money.
IAC/InterActive (IACI) sold the magazine to IBT Media in August.