Newsweek magazine, just shy of its 80th birthday, will shift from print to an online-only publication after Dec. 31, CNNMoney reported.

Tina Brown, the editor-in-chief of both Newsweek and The Daily Beast, the online news site that was combined with the magazine last year, made the announcement online. She said the growing use of tablet computers by readers, combined with continued weakness in print advertising, forced the decision.

“Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night,” she said in the statement. “

But as we head for the 80th anniversary of Newsweek next year, we must sustain the journalism that gives the magazine its purpose – and embrace the all-digital future.”