Nintendo can confirm that Future US will end the production of Nintendo Power magazine with the last issue slated for December 2012. For Nintendo Power subscription inquiries, please visit nintendopower.com/customerservice. Check out Nintendo at nintendo.com, on Facebook at facebook.com/nintendo or on Twitter @nintendoamerica. - Nintendo statement

Nintendo has also confirmed that the magazine is not moving to a new publisher, which is definitely the death knell for the long-time magazine.

Also worth noting, some of the staff have said that they're going to try doing something special for the last issue, but tweets making that statement have since been removed.