Pixels, not ink-on-paper

Rico has been predicting this for awhile now, but it's still a shock. Abby Ohlheiser has a Slate article about changes at Newsweek:

Newsweek's Twitter-baiting covers will soon be no more— at least the physical print versions of them. The publication announced today plans to go all digital at the start of next year.
The last issue of the US edition of the magazine will hit stands on 31 December. After that, the publication will move to a single-edition digital format. In their announcement, the company explained that the online-only move will still keep some content subscription-based, with some stories popping up on the Daily Beast website. Newsweek and The Daily Beast merged two years ago, after the Washington Post sold the magazine to Sidney Harman.
So why the move? Here's what they had to say:

We are announcing this morning an important development at Newsweek and The Daily Beast. Newsweek will transition to an all-digital format in early 2013. As part of this transition, the last print edition in the United States will be our 31 December issue.
Meanwhile, Newsweek will expand its rapidly growing tablet and online presence, as well as its successful global partnerships and events business.
Newsweek Global, as the all-digital publication will be named, will be a single, worldwide edition targeted for a highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context. Newsweek Global will be supported by paid subscription and will be available through e-readers for both tablet and the Web, with select content available on The Daily Beast.
Currently, 39 percent of Americans say they get their news from an online source, according to a Pew Research Center study released last month. In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format.

The publication also mentioned that they'd been "increasingly affected by the challenging print advertising environment." The move will come with staff cuts "here in the US and internationally," according to the announcement.

Rico says the printers are going to take it in the shorts, along with the paper companies; change is hard...