Traditional print media are going through their most challenging times to date, and the dangers of folding are very real. Well, Newsweek is one of the giants of traditional print media, and they have not turned their backs on the digital revolution, but did mention that they will embrace it instead by working on a plan to perform a transition to an online publication, according to owner IAC/InterActiveCorp (IACI) anyways. This announcement has been a long time in coming, especially when you consider Newsweek’s financial coffers bleeding with each passing week.
In fact, Newsweek is projected to lose up $22 million in 2012, and with this shift to an online presence, we are left begging with one question – will it be a 100% shift to the online platform, or will there be both conventional print as well as a Web presence? Only time will tell, and I believe that Newsweek will not dare alienate their old school subscribers by going online entirely, but would prefer to test the waters out beforehand instead.