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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.

Barry Diller's IAC/InterActiveCorp. has taken a controlling stake in the Newsweek/Daily Beast joint venture, after the family of the late Sidney Harman decided to stop investing in the company.

When Brown claimed in November that the Beast was not “money-losing” but “on course to make money,” I suggested that claim be regarded with skepticism. When she claimed last week that Newsweek remains one of the world’s seven most influential news brands, I pointed to data showing otherwise. And, once again, a few grains of salt are required here.

After months of rumors, and amidst mounting speculation that a deal was imminent, The Daily Beast announced that it has withdrawn from talks with Newsweek about a merger between the two organizations. Had the deal gone through, Brown was widely expected to have become editor of the magazine.