December will witness the Far Eastern Economic Review, a 63-year-old magazine, which with its rigorous reporting defeated Asia's authoritarian power brokers in its prime; being shut down.

The blame for the shut down was put on declines in revenue and readership by the Review's publisher, Dow Jones & Co., which is owned by Rupert Murdoch's News Corp., and publishes The Wall Street Journal.

The Review commenced operations in 1946 and used to publish freelance analysis and opinions for nearly 30 years, after which it became a weekly news magazine that charted Asia's turbulent economic and political rise. However, it faced lawsuits from Singapore's leaders and was banned in the island nation.

In 2004, it returned to its roots due to unstable readership and advertising following the Asian financial crisis and dot. com meltdown. This led to lay-off of nearly all the magazine's 80-plus staff and it returned to publishing mostly academic-style opinion and analysis in a monthly journal format.

Via a statement, Dow Jones said: "Despite several attempts at invigorating the brand, the Review's continued losses in advertising revenue and readers is now unsustainable."

Only 12,000 subscribers across Asia, Europe and the United States were held by the Review as a monthly publication. It should be noted that it existing editor, Hugo Restall, will remain on the Wall Street Journal's editorial board.