Newsweek Ready to End Its Print Edition

Submitted by Nancy Smith on July 26, 2012 - 3:47am

Marking the beginning of the end for the magazine's 79-year run as a print weekly, Newsweek owner IAC/InterActiveCorp (IACI) said Wednesday the magazine will begin transitioning to an online publication.

Newsmax.com had the story Wednesday night.

IAC Chairman Barry Diller made the announcement during a quarterly earnings conference call, saying the New York-based company aims to curb investments in the money-losing business. But he stopped short of saying it would be a total shift to the Internet.

The transition to online from hard print will take place, Diller said. Were examining all of our options.

Newsmax.com claims a plan to move Newsweek to an online-only publication will be announced as early as September. Newsweek became part of his media holdings in 2011 when it merged with IACs Daily Beast Co., an online news startup that Diller started with former Vanity Fair editor Tina Brown.

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