Newsweek, the 80-year-old US current affairs magazine, is to become an online-only publication. The last print edition will be on 31 December 2012. (BBC, 18th October 2012)
Much has changed in the publishing world, not least how consumers get their news. The number of Newsweek subscribers has slumped from more than 3 million at its peak to 1.5 million today. Coupled with falling advertising revenues for traditional print media this has led Newsweek to ditch its print edition altogether.
Managing this sort of major change requires a specific set of management skills: effective managers must manage both people and processes in order to drive change initiatives and meet the organisation’s strategy. The Chartered Management Institute (CMI) is dedicated to creating standards and providing the high quality training required for management and leadership.
The challenges of the Newsweek change will be helped by the fact that it is part of an online publishing group. Newsweek merged with the internet news group, The Daily Beast, two years ago. The Daily Beast's founder, Tina Brown, said its site now had more than 15 million unique visitors a month, a 70% increase on last year.
Newsweek Global, the digital-only version, will be available via a subscription. It is a way of tapping into the 70 million consumers who now use tablet computers in the US, a figure that has soared from just 13 million two years ago.
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