International current affairs magazine Newsweek plans to relaunch its print edition in early 2014, just over one year after ceasing publication to focus on its website, the New York Times reported Tuesday.
Newsweek editor in chief Jim Impoco was quoted as saying that the magazine, which was last printed in December 2012, would aim to become a subscription-based outlet akin to The Economist rather than its traditional rival Time Magazine.
“We see it as a premium product, a boutique product,” Impoco was quoted as saying of the magazine’s relaunch, which is expected in either January or February.
The return of Newsweek’s print edition marks a turbulent few years for the title, which was first published in 1933.
At the start of the 1990s, the magazine had a worldwide circulation of 3.3 million readers, but sales declined steadily over the next two decades, slipping to 1.5 million by 2010.
The magazine was sold to the billionaire investor Sidney Harman three years ago, merging with The Daily Beast website.
The venture was largely seen as being a failure, and the decision to scrap the print edition was announced in October 2012, saving the company an estimated $US40 million in overheads a year.
The magazine continued in an online-only format called Newsweek Global, and was bought again by digital media company IBT Media in August.
Impoco told the New York Times it was hoped Newsweek could build circulation of its print edition to 100,000 in its first year.
Copyright (2013) AFP. All rights reserved.
Business Insider Emails & Alerts
Site highlights each day to your inbox.