Saturday Night magazine, which was established in 1887, will suspend publication after its upcoming issue, St. Joseph Media announced Thursday.
The magazine was purchased by St. Joseph Media from CanWest Global Communications in November 2001. It is distributed inside the National Post newspaper.
"Despite a superb editorial product under the leadership of (editor-in-chief) Gary Stephen Ross, advertisers' support - although favourable - has not reached projected levels," St. Joseph Media president Donna Clark said in a statement.
"At this time we do not see a path to profitability for Saturday Night."
Over the years, the magazine has featured many of the country's top writers. It won several awards at the 28th National Magazine Awards earlier this year.
In a news release, St. Joseph Media said it would attempt to reassign magazine staffers to its other publications, which include Toronto Life, Gardening Life, Canadian Family, Quill & Quire, and Ottawa magazine.
The final issue before publication is suspended will be available Nov. 26.