The Onion, which had been the Internet’s most popular satire magazine, has canceled its website, saying it is “deeply disappointed” with the decision.
The move was announced on Thursday.
The Onion had been a fixture on the Web for more than 30 years, but its online presence has declined in recent years as advertisers and other publishers have been shifting to less controversial outlets such as The New Yorker and Slate.
The company said it will continue to publish on its website as well as through its new online magazine, called The Onion Weekly.
“The Onion is deeply disappointed in this decision,” The Onion CEO Scott S. Friedman said in a statement.
“We believe that satire is the most important form of expression available on the Internet, and we will continue publishing content that has an impact beyond our own readership.”
The Onion said that it will keep running a daily news section called The Newsroom that will feature “an assortment of top-tier journalists covering the world’s most important news stories.”
The move comes amid a wave of media consolidation, with many major news organizations including The New York Times and CNN losing ownership and merging into larger entities.
The New Orleans Times-Picayune, the publisher of the satirical newspaper, has announced that it has bought its competitor, the New York Post.
The Times-picayune has also taken steps to cut costs.
Last year, it fired a former news director and announced that a former staff writer would leave the company in July.
And this year, the newspaper said it would stop selling newspapers and start selling its Web-based magazine.
“While we are deeply disappointed that The Onion has decided to discontinue its publication, the future of The Onion is uncertain, and The Onion will continue providing news and commentary to our readers,” The Times Picayune said in its statement.