Institutional Investor — a widely read publication on Wall Street for its rankings of analysts and others — announced Thursday it will become a fully digital publication starting April 1.
"We just felt like it was the right time for II to move out of print," Chairman and CEO Diane Alfano said in a phone interview. "We're seeing a real increase in our digital engagement and digital sales."
Alfano said that digital sales and online readership have risen 44 percent and 20 percent, respectively, over the past year. Print, meanwhile, accounts for just 5 percent of the company's overall business.
Institutional Investor Alpha, a sister publication of Institutional Investor that's published quarterly, will also become an all-digital publication.
The move will lead to layoffs ranging in the single digits, Alfano noted. But Kip McDaniel, chief content officer at Institutional Investor, said, "The core editorial team will remain intact."
Correction: Institutional Investor announced Thursday it will become a fully digital publication starting April 1. An earlier version misstated the day.