Who killed Newsweek?

Is the death of Newsweek another harbinger of the coming death of print? If so, why did Newsweek die this year while other similar magazines, like Time, the New Yorker  and the Economist, thrive?

Tina [Brown] says that ‘every piece of the zeitgeist was against Newsweek’. That’s not quite true — the circulation of Time, the New Yorker  and the Economist have remained relatively healthy while Newsweek’s plummeted. Five years ago, it sold 3.2 million; in June last year, 1.5 million. It was losing $20 million a year, and even to a billionaire like Diller that added up to real money…. The odd reality is that even as the buzz and the life of journalism has migrated to the internet, the money has stayed on paper….But [Tina Brown's] assertion that print ‘is not the right medium anymore to produce journalism’, is mercifully premature. Newsweek died its own death: magazines live on.

via The Spectator.