I grew up reading Newsweek because it came to our house, now after many years, the internationally recognized magazine is going digital.
The decision to cease publication for the print edition was forecasted by the owner Barry Diller himself when he made a comment in the July followed by Tina Brown, the editor in chief, who posted a write-up that gave way to speculation that Newsweek would soon go all digital.
When Reuters interviewed Brown regarding the decision, she said “We started discussing it very fiercely and intensely in June. It’s been in the works a long time, in a sense. And today, we felt ready and absolutely committed to going the course we charted.”
On Thursday Brown held a meeting and broke the news to Newsweek’s business and editorial staff. Now the way forward is that name will be rebranded to Newsweek Global. Its current subscribers will be given access to the digital edition.
This transition will no doubt lead to job cuts but both Brown and Baba Shetty, the chief executive didn’t add anything to this line of thinking.
The iPad edition will cost $24.99 annual and if it is combined with print-iPad yearly subscription then $39.99.
The last print edition of the magazine will hit stands on December 31.