The international magazine will shift to an online-only format starting in early 2013 and job cuts are expected, The Associated Press reports.
Newsweek’s last U.S. print edition will be its December 31 issue.
Barry Diller, the head of the company that owns Newsweek, had announced in July that the publication was examining its future as a weekly print magazine.
The announcement of the change was made by Tina Brown, editor-in-chief and founder of The Newsweek Daily Beast Co., on The Daily Beast website Thursday.
Brown said staff cuts are expected, but didn’t give a specific figure.
Brown said that the online publication will be called Newsweek Global and will be a single, worldwide edition that requires a paid subscription. It will be available for tablets and online reading, with certain content available on The Daily Beast website.
Welcome to the digital age.