The digital avalanche sweeping across the media landscape has caught up with the oldest newspaper in the world as it is jettisoning its print edition in favour of a digital-only model.
Cnet.com is reporting that the world's oldest newspaper, Lloyd's List, will be resting its print edition this December after nearly 289 years of non-stop publication.
Lloyd List, widely believed to be the leading source of news and analysis for the global shipping market, was first published in 1734 as a notice posted to a London coffee shop's wall.
The newspaper's management announced in a statement that it is switching over to a digital-only model due to waning interest in its print edition. According to a recent survey only 2 per cent of its readers solely rely on the print edition.
"The overwhelming majority of our customers choose the capabilities of digital over print," Lloyd List editor, Richard Meade, said in a statement.
"The digital approach offers new avenues and opportunities to innovate an up-to-the-minute service that offers in-depth news and information on every aspect of shipping as well as unrivalled market intelligence and data provision which can be tailored to suit our readers' needs."
The paper has been dealing with declining profit in recent times as revenues plummet due to falling print advertising and waning circulation.
The announcement from Lloyd List follows recent decisions from prominent newspapers magazines such as Christian Science Monitor, Newsweek, and US News & World Report to drop their unprofitable and untrendy print editions in favour of internet-only editions.