The 15-year-old title has been online since 1998 and will now invest in developing its website, a release from editor and co-founder Colin Steven said.
"We took the decision as sales and advertising has been declining and doing it online means we can engage our readers on a whole different level and we'll be able to expand the music genres we cover as well," George told Journalism.co.uk.
Staffing levels will not be affected by the move as all contributors are freelance, he added.
The last print edition will be published on June 12 and the revamped kmag.co.uk will go live on July 1.
The new website will feature blogs from music journalists, podcasts, user-generated content, forums and access to the magazine's archive.
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