Job Cuts Expected As Newsweek Ends Print Edition
LOS ANGELES (CBSLA.com) — Newsweek, a magazine first published in 1933, will publish its last print edition in December and go all digital in 2013, it was announced Thursday.
The magazine’s final print edition will be December 31 before the 80-year-old publication transitions to an online-only format.
Editor-in-chief Tina Brown, who announced the demise on The Daily Beast website, warned that staff cuts are also expected at the publication.
Newsweek has 22 bureaus worldwide, with nine in the U.S., including Los Angeles.
Brown cited a recent Pew Research Center study that found 39 percent of Americans use the Internet as their primary news source.
“In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format,” Brown said.
Andrew Beaujon, a reporter for the Poynter Institute, told KNX 1070 NEWSRADIO that the development is far from unexpected.
“Their circulation has dropped more than half in the last five years, and ads have been down every year by about 33 percent,” Beaujon said.
The new format will be called “Newsweek Global” and will offer a single edition worldwide for paid subscribers only.