Newsweek to shut Asia offices

Newsweek will be shutting down its offices in Singapore, Hong Kong and Japan following the announcement of the magazine going fully digital by 2013, sources have told Marketing.The sources add the work in Asia might be delegated to independent representative as the offices shut down by year-end.The magazine's last print edition in the US will be for the 31 December issue.Going forward, all of Newsweek's editorial and sales operations will be helmed by the main office in US. Both The Daily Beast and Newsweek Global (the digital version of Newsweek) will be lead by Tina Brown, editor-in-chief and founder of  The Daily Beast.Newsweek global will follow a paid subscription model as opposed to the free content sister digital publication The Daily Beast, offers.Newsweek was founded in 1933 by former Time editor Thomas Martyn. From the early 1960s, the Washington Post Company owned the titled and later, sold it to audio tycoon Sidney Harman in 2010.