Newsweek will end its print publication after 80 years and shift to an all-digital format in early 2013.

Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. It's also an environment in which advertisers are looking for less expensive alternatives online.

The announcement of the change was made Thursday by Tina Brown, editor-in-chief and founder of The Newsweek Daily Beast Co, and Baba Shetty, its CEO. Job cuts are expected.

"In our judgment, we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format," Brown and Shetty said on The Daily Beast website.

Newsweek isn't the first to drop its print product. US News & World Report dropped its weekly print edition years ago and now focuses on the Web and special print editions, such as a guide to best graduate schools. SmartMoney announced in June that it was going all-digital.

Newsweek's print edition has been losing relevancy over the years as readers flocked to new, digital sources for news.

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