After 80 years in print, Newsweek is going all-digital starting early next year.
The Washington Post Company sold Newsweek two years ago, when it was merged with The Daily Beast online news operation.
The magazine was started in 1933 by a former foreign-news editor for Time magazine.
Newsweek had long been second to Time in circulation among news magazines, but began making its mark in the 1960s for its coverage of civil rights and ability to reflect the glamour and youthful attitude of the Kennedy administration.
Editor-in-chief Tina Brown says it's not goodbye -- "it is about the challenging economics of print publishing and distribution."
In fact, Brown said the growing use of tablet computers and the continued weakness of print advertising ultimately forced the decision.
"Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night," she said in a statement. "But as we head for the 80th anniversary of Newsweek next year, we must sustain the journalism that gives the magazine its purpose and embrace the all-digital future."
print edition had a paid circulation of 1.2 million copies over the last 12
months, while it had only 26,394 paid electronic copies on average.
Staff cuts are expected, but there is no specific figure being released.