(CNN) -- Legendary gossip columnist Liz Smith is confirming the latest buzz: She's been laid off from the New York Post.

Legendary gossip columnist Liz Smith, 86, has been a fixture of New York tabloids for more than three decades.

Confronted with "economic gales," New York Post Editor Col Allan said in a letter sent to Smith that the newspaper would not renew her contract, which expires at the end of the month.

"The Post is grateful to have been able to publish Liz Smith's legendary column for so many years. We wish her the very best for the future," Allan said in a statement Tuesday.

In an interview with CNN affiliate WABC-TV in New York, Smith noted that Friday "will be the first time in 33 years that there hasn't been a Liz Smith column in a New York paper."

"That hurts my heart. I would hate to see another newspaper fail. ... When I came to New York, there were nine newspapers. I've worked for seven of them. They just disappear out from under you," she added.

Often referred to as the "Diva of Dish," the 86-year-old Smith has been a presence in New York tabloids for more than three decades. She's written for the New York Post, New York Daily News and Newsday.

Smith was also a fixture on local television, appearing on WNBC-TV for more than 10 years. In 2000, she published a memoir, "Natural Blonde," and wrote a nonfiction work in 2005 combining food and gossip, "Dishing."

Though her titillating and often penetrating look at the New York social scene may be gone from tabloid pages, Smith will continue to publish, writing five times a week for wowOwow.com, an online community created and run by women for women.

In an online statement, WowOwow.com co-founder Joni Evans said that Smith will begin posting next week.
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