Yesterday it was reported that The Guardian is seriously considering an end to its print edition. Cue applause.

But despite the denial from editor Alan Rusbridger, it is becoming apparent that print editions of certain publications are no longer tenable.

Today, Newsweek, which has a history of 80 years in print, announced that it will move to an 'all digital format' in the new year.

"Newsweek Global, as the all-digital publication will be named, will be a single, worldwide edition targeted for a highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context. Newsweek Global will be supported by paid subscription and will be available through e-readers for both tablet and the Web, with select content available on The Daily Beast."

A statement published on Newsweek's sister site, The Daily Beast, reflected on the romanticism of print, while outlining why continuing in this manner is simply unaffordable for the group. Rusbridger will be shaking in his shoes.

"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. 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."

It has been apparent for some time that print media is in most cases, no longer a profitable exercise. This latest move will trouble the likes of The Guardian, The Times and print magazines that will surely have to follow suit. The question is, given The Guardian's cast iron guarantee that they would never instigate a paywall - how will they remain solvent?

Why, through a mandatory Guardian tax, of course!