Since the story broke early this morning, newsfeeds, blogs, and web sites are buzzing with the news that Newsweek will go digital only on December 31, 2012.

Tina Brown, editor in chief, explained "We are transitioning Newsweek, not saying goodbye to it," Brown said. "We remain committed to Newsweek and to the journalism that it represents. This decision is not about the quality of the brand or the journalism -- that is as powerful as ever. It is about the challenging economics of print publishing and distribution."

Brown cites a Pew Research Center report that found 39% of Americans get news from an online source. And indeed that percentage will increase in the coming years. Transitioning the organization now to digital only will help secure the foundation Newsweek laid in 1933 when the publication began.