Newsweek to End Its Print Edition

The world-famous current affairs magazine "Newsweek" has announced it will stop printing its publication at the end of the year and will become online-only. The magazine was established in 1933 and has been in print for the past 80 years. However, rising costs of publishing and a fall in the number of advertisers willing to buy space in newspapers and magazines mean a move to a digital version. The number of subscribers has also halved from its 2001 heyday of over 3 million to 1.5 million today. The transition has been in the works for a number of years. In 2010 Newsweek merged with the Internet news site "The Daily Beast" which has over 15 million visitors a month.

The switch to an online-only format is expected to revive Newsweek's fortunes. It was in serious trouble in 2010 when its revenue dropped nearly 40 per cent in two years. It was loaded with debt and its owner, The Washington Post Company, sold the company for just $1.00. The Daily Beast's editor Tina Brown now runs both publications. She said profit had to come before "the romance of print". She told reporters: "We must sustain the journalism that gives the magazine its purpose - and embrace the all-digital future. This decision is not about the quality of the brand or the journalism - that is as powerful as ever. It is about the challenging economics of print publishing and distribution."

 (19th October, 2012)

Question 1. Indicate whether the following statements are true or false.give evidence from the text.

a.         Newsweek has gone out of business and will finish up in December.       

b.         Newsweek's new editor wants to add more romance to the magazine.     

c.         The editor stressed the importance of digital editions of the publication.   

d.         The editor said economics and news distribution weren't a challenge.      

Question 2. Answer the following questions in your own words.

             

            a. Which three reasons have Newsweek’s editors had to take this decision?

            b. According to Tina Brown’s words, will the digital version lose quality? 

Question 3. Find a word or phrase in the text that means the same as:

            a. to join forces (par 1)

            b. to welcome (par.2)

            c. delivery (par.2)

Question 4. Rewrite the following sentences without changing the meaning.

a. Newsweek has moved to a digital version because the costs of publishing have risen and the number of advertisers willing to buy space in newspapers and magazines has fallen.

If the costs of publishing had……………..

b. The switch to an online-only format is expected to revive Newsweek's fortunes.

Editors expect …….

c.“We must sustain the journalism that gives the magazine its purpose - and embrace the all- digital future.”

Tina Brown said ……..

Question 5. Write a short essay (120-150 words) on the following topic

            How important is looking at, reading about, or listening to news to you?