New York (CNN Business) The Weekly Standard, the magazine that espouses traditional conservatism and which has remained deeply critical of President Donald Trump, will shutter after 23 years, its owner Clarity Media Group announced Friday morning. The magazine will publish its final issue on December 17.

The announcement came after the magazine's editor-in-chief, Stephen Hayes, met privately with Ryan McKibben, the chief executive and chairman of Clarity Media Group, a media holding company owned by billionaire Philip Anschutz.

"For more than twenty years The Weekly Standard has provided a valued and important perspective on political, literary and cultural issues of the day," McKibben said in a press release. "The magazine has been home to some of the industry's most dedicated and talented staff and I thank them for their hard work and contributions, not just to the publication, but the field of journalism."

Employees were told at an all staff meeting, which CNN obtained an audio recording of, that they would be paid through the end of the year, and that afterward they would receive severance which would range in scale depending on factors like seniority. To receive severance, however, employees would need to sign a strict non-disclosure and non-disparagement agreement.

"I know it's an emotional day, but I want to tell you don't get on social media and attack anybody because it will put your severance in jeopardy," McKibben told employees in the meeting.

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