FOLIO is reporting that U.S. News & World Report is going to a monthly publishing schedule:

With print advertising in a precipitous decline, U.S. News & World Report, a magazine once considered a distant third in the newsweekly category to Time and Newsweek, is reducing its frequency.

The magazine, which had announced in June that it would shift its frequency to biweekly in 2009—effectively ending its status as a “newsweekly”—will now become a monthly, according to a pair of news reports citing staffers briefed with the plans.

As with the announcement by Christian Science Monitor that it plans to stop printing and go to an online-only format, U.S. News will increase the amount of coverage on its Website.