Bauer Media announced the closure of the iconic Cleo magazine on Wednesday after its long 44 years of business in print as it plans to focus on the re-establishment of the teen online magazine, Dolly. The last issue of the magazine, the March edition, will be on sale from Feb. 22.

The company confirmed that the closure of the Australian edition of Cleo would not affect the publications of Cleo Singapore, Malaysia and Indonesia which were taken over by SPH Magazines in 2011. It added that Cleo Thailand, jointly owned with Post International Media, will also continue to be published.

“I would like to thank Lucy Cousins and all of the CLEO editorial team for their ongoing dedication to the magazine over the years,” the Huffington Post quoted Andreas Schoo, the interim CEO of Bauer Media, as saying in a statement. “Scale, engagement and a robust digital strategy are key to our success and we believe we have a compelling offer in Dolly and Cosmopolitan to lead our young women’s portfolio into the future.”

Earlier, Cleo told the ABC that the rumors around its closure were “complete speculations.” However, the move was confirmed by the company in a statement issued on Wednesday.

The ABC reported that according to Schoo, Bauer Media is planning to invest in Dolly by adopting a digital-first approach. It will focus on mobile video, social media and e-commerce, which will be supported by a restructured print and digital editorial team to ensure the best content quality in the market.

“Our always-on approach will be complemented by a new look print product, taking Dolly from monthly to bi-monthly, relaunching as a high quality, valued-packed companion to the digital and social platforms, covering major trends, fashion, beauty and issues affecting young women today,” he said.

According to the Huffington Post, Cleo’s staff, who also worked for the teen title Dolly, were notified on Monday. They were then asked to wait for two more days for the publisher to reveal the fate of Dolly.