NEW YORK, N.Y. – Paper copies of Newsweek will again roll off the presses starting next year.
Editor-in-Chief Jim Impoco says the news magazine’s owners, IBT Media, want to “hit the reset button” and move to a business model where a weekly print magazine would be mainly supported by subscription fees instead of advertising.
Impoco said in an interview Wednesday that officials haven’t decided how much the magazine will cost, but it’s expected to be less than $10 per issue.
Newsweek had been struggling for years when The Washington Post Co. sold it for $1 in 2010 to stereo equipment magnate Sidney Harman, who died the following year. Before he died, Harman placed Newsweek into a joint venture with IAC/InterActiveCorp’s The Daily Beast website, a move intended to help widen its online audience.
Newsweek ceased print publication at the end of 2012. The online magazine was sold to IBT, which owns online publications including International Business Times, Medical Daily and Latin Times, in August for an undisclosed sum.
Many magazines and newspapers have reduced or shut down their print editions in recent years because of weak demand from advertisers. But Impoco says officials are confident that they will be able to drum up enough print subscribers.
Last month, Newsweek’s website recorded more than 5 million unique pages views. The current site had to be created from scratch after the sale to IBT. The website is free, although some mobile apps cost money.