The announcement came after the magazine's editor-in-chief, Stephen Hayes, met privately with Ryan McKibben, the chairman of The Weekly Standard's publisher, MediaDC.
The closing of the magazine represents a broader shift in conservative media. Outlets on the right that are critical of Trump have lost influence or changed their tone, while media organizations on the right supportive of the President have flourished.
In a note sent to staff Friday morning, Hayes referenced the difficulty conservative news organizations critical of Trump have had in recent years.
"This is a volatile time in American journalism and politics," Hayes wrote. "Many media outlets have responded to the challenges of the moment by prioritizing affirmation over information, giving into the pull of polarization and the lure of clickbait."
Hayes said it was a "profound honor" to work with The Weekly Standard's staff, and added, "I'm proud that we've remained both conservative and independent, providing substantive reporting and analysis based on facts, logic and reason."
For months, The Weekly Standard's leadership had butted heads with MediaDC, and the two parties had previously agreed to allow Hayes to search for a new owner, people familiar with the matter told CNN earlier this month. Hayes conducted a search, according to those people, but MediaDC recently informed The Weekly Standard that it was no longer interested in selling.
Meanwhile, MediaDC poured resources into expanding the magazine belonging to one of its other properties, The Washington Examiner. It was The publisher announced last week that The Washington Examiner magazine would grow into a weekly publication. The Washington Examiner is less critical of Trump than The Weekly Standard.
The Weekly Standard was founded in 1995 by Bill Kristol and Fred Barnes. During the presidency of George W. Bush, it was widely considered to be aligned with the administration and with neoconservatism broadly.
Under Hayes' leadership, The Weekly Standard has remained steadfast in its criticism of Trump. Trump's supporters have lashed out at The Weekly Standard and its influence in Republican circles has dwindled.
But while The Weekly Standard's influence in Republican politics has declined, its web traffic has increased, people familiar with the data said.
The magazine has also earned praise for some of its recent work. In November, for instance, the magazine published audio of Republican Congressman Steve King telling attendees at a campaign event in Iowa that "there's plenty of dirt" coming from Mexico, apparently referring to Mexicans themselves.
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