Print media for the most part is a dying breed in the age of the Internet and Newsweek has announced after 80 years of publishing, they will be printing their last issue on December 31st, 2012.
In 2001, the magazine had 3 million subscribers. Right now, they have less than half that number.
Newsweek has been in trouble. In 2010, the Washington Post sold Newsweek for $1.00. Yes, one dollar. It was sold to Sidney Harmon and for him to take over the magazine's financial responsibility.
Tina Brown, the magazine's editor-in-chief and who also runs "The Daily Beast" web site announced that as of December 31, 2012, Newsweek will cease publication and will be available online with The Beast web site.
In speaking with USA Today, Brown said there will be a meeting with employees of the magazine and there will be many layoffs.-DocFB
Diagnosis: Do not be surprised to see more magazines folding in the coming year...