Newsweek set to end 80-year print edition, will go "all-digital" starting 2013

Agence France-Presse (AFP), via ABS-CBNNews.com, reports that on Thursday, October 18, Newsweek "announced that it would end an 80-year run as a print magazine" and will go all-digital by 2013.

The report noted: "Like other US magazines and newspapers, Newsweek has been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online. Circulation has fallen from more than four million a decade ago to around 1.5 million last year, and losses were mounting."

The report quoted Tina Brown-editor-in-chief and founder of the online Newsweek Daily Beast Company-who said, "This decision is not about the quality of the brand or the journalism-that is as powerful as ever. It is about the challenging economics of print publishing and distribution. We are transitioning Newsweek, not saying goodbye to it."

For more on this story, read the AFP article posted on ABS-CBNNews.com.