After 80 years in print, Newsweek will transition to an all-digital format by early 2013.
The new version of the publication will be called Newsweek Global, explained Tina Brown, the editor-in-chief of Newsweek/Daily Beast Co., and Baba Shetty, the company's chief executive. It will be available for both tablet and the Web, and will be supported by paid subscription.
The Associated Press reports that job cuts are expected. Brown clarified that Newsweek's editorial and print operations, both in the U.S. and abroad, would be streamlined.
A Pew Research Center study found that 39 percent of Americans say they get their news from an online source.
The move doesn't come as a surprise. This past July, IAC chief Barry Diller, a majority shareholder of Newsweek, said that a move toward an all-digital format was impending.