Newsweek to Drop Off Newsstands

After 80 years of publication, the magazine is going all-digital

By Nate Wooley, InvestorPlace Writer

It’s been a long run for Newsweek, which has been on newsstands for decades. But not even the eldest magazines are immune to the changes in the industry.

Beginning in 2013, Newsweek will become an online-only magazine. The announcement came in The Daily Beast this morning. The last hard copy will hit the stands Dec. 31, 2012.

The online version will be called Newsweek Global and will be a single, international edition. The subscription-based online publication will be available through both the Web and tablets. The announcement states that the new effort will be aimed at forward-thinking opinion leaders and a sophisticated audience.

Between The Daily Beast and Newsweek’s existing online efforts, the two have more than 15 million unique monthly visitors. For tablets, their existing user base through Apple‘s (NASDAQ:AAPL) iPad , Amazon‘s (NASDAQ:AMZN) Kindle, Barnes & Noble‘s (NYSE:BKS) Nook and Zinio’s online newsstand will be converted to the new publication in the new year.

The new venture will see staff reductions as the effort to streamline the editorial and publishing process moves forward.

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