Teen People Print Magazine Withers, While TeenPeople.com is Growing

It shouldn't come as big shock to anyonew that the MySpace crowd prefers the online version on Teen People to the printed version. via MarketWatch

Teen People, one of the first major magazines to be launched simultaneously in print and on the web, on Tuesday said that it would suspend its print operations.
The decision, which was taken by Time Inc., is another sign of the migration of readers – particularly young ones – from the printed page to the internet. It could precede similar changes at other Time Inc. publications, according to people familiar with the matter. Ann Moore and John Huey, president and editor-in-chief, announced the changes in a memo to staff on Tuesday in which they pledged to invest in TeenPeople.com, citing its growth and promise.

What I wonder is are the execs in the boardrooms and corner offices contemplating similar fates for more magazines, and are there effective long term strategies in place for monetizing the move?