Newsweek is being prepared for a sale, reports magazine industry magazine Folio:.
This comes not long after the magazine drastically reduced its rate base (the circulation it promises to advertisers) and reformatted the entire publication to make it more of a thought-leader publication like The Economist and less a traditional newsweekly. It was probably the best thing to do, considering that timely news is one thing print publications can not do as well or better than online (in-depth, long-form journalism is a different matter, however).
Does this mean Newsweek's heading toward the dustbin of (magazine) history? Obviously, that's unknown. A new buyer (or an employee-buyout, such as U.S. News underwent many years ago) might rejuvenate it or keep it going as-is. And just because a magazine is put up for sale, it doesn't mean it will necessarily be sold.