Newsweek Going Out of Print

Newsweek, which has been in print since 1933, announced on Wednesday, that it will be going fully digital.

The move will take place by the end of 2012.

Employees of the magazine were warned that there will be layoffs coming.

Plans are for the all digital version to be called Newsweek Global and a subscription will be required.

The company plans to save at least forty-two million dollars a year with the move.