Newsweek, the 79-year-old magazine, will eventually transition to an online-only publication, according to owner IAC/InterActiveCorp.
The New York-based company made the announcement during its quarterly earnings conference call today, saying it would curb investments in the money-losing business.
To contact the reporter on this story: Sarah Frier in New York at sfrier1@bloomberg.net
To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net
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