Newsweek, the venerable U.S. weekly magazine covering current events, will publish its final print edition on Dec. 31 and move to an all-digital format early next year, its parent company said today.

The all-digital publication will be called Newsweek Global and will be a single, worldwide edition, according to a post on the Daily Beast web site.

It will be subscription-based and available on e-readers for both tablet and the Internet, with some content available on the Daily Beast web site, Tina Brown, editor in chief of Newsweek Daily Beast Co, and Baba Shetty, chief executive, said in their post.

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