The publication announced in a statement that: "Äripäev's readership is online. All of our close to 20,000 subscribers have a digital account."

Äripäev will continue to publish a monthly magazine, including its TOP series and the flagship Estonian rich-list publication, the company says.

"This autumn, we will come out with a renewed environment of the TOPs and our special editions, which will be much more reader-friendly than before, as well as advertising client-friendly," Äripäev said, adding that these magazines will not contain news, though will have features on outstanding companies and businesspeople.

Print media in Estonia has, as in other countries, long faced a squeeze, not helped by delivery costs for those who have a subscription, particularly in more outlying areas of the country.

The paper had already been scaled down in frequency from a daily, to a weekly.

The paper dates back to 1989 at a time when tightly controlled Soviet-era media restrictions were being eased, in the years leading up to Estonia's restoration of independence.

Then as now it was owned by the Swedish Bonnier group, unusual in the private media segment in Estonia nowadays, which are mostly Estonian-owned and dominated by two groups, the Postimees Group and Ekspress Meedia.

Over a decade ago, the publication also ran an on-line, business-focused English-language service, Baltic Business News, now discontinued.

Äripäev AS director and editor-in-chief is Igor Rõtov.

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