Ceding to competitors Newsweek and Time, the US News & World Report announced it roll back and publish only every two weeks, reports MediaBuyerPlanner.

The company buttressed the change with the launch of the US News Media Group, which reflects "the magazine’s shift to becoming a multi-platform digital publisher."

"The creation of US News Media Group is simply a recognition of the successful digital evolution that we began more than a decade ago," said Mortimer Zuckerman, editor-in-chief of U.S.News & World Report. "At the same time it integrates and leverages our core assets that will continue to deliver enormous value to consumers and advertisers alike."

The website will be updated daily. A site redesign will include a shift to focus on better storytelling - something that cannot be fully explored on a weekly basis, according to editor Brian Kelly.

The three top newsweeklies have struggled with falling ad pages in recent years: pages fell 23.7 percent this year at Newsweek, 27.2 percent at Time and 32.7 percent at U.S. News & World Report, according to the Media Industry Newsletter (via AdAge).

In late 2007, U.S. News & World report unveiled its "Best Of" website, RankingsandReviews.com. It plans to expand the franchise as part of the US News Media Group initiative.

Newsweek cut its rate base by 16 percent, to 2.6 million this year; Time did the same in January 2007, reducing its rate base by 19 percent to 3.25 million.

In a recent interview, Microsoft CEO Steve Ballmer forecast that offline media, including newspapers and magazines, will no longer be delivered in paper form.