Why is Publisher being phased out, and what is Microsoft replacing it with? Will Microsoft 365 be cheaper since they are phasing out the program?

I do not see any reason why Microsoft should remove Publisher for an existing M365 subscription.
It should simply become end of life with no further support, but not removed from the installation.
I can understand it not being supplied for new installations of M365 after it is no longer a supported program, but to remove it from an existing M365 subscription is a disservice to its dedicated users, especially since there have been no details of a replacement product.
Neither PowerPoint nor Word are viable alternatives. The saving as a PDF and importing into Word is a non-runner for anything but simple Publisher files.
I have several programs that can convert Publisher files to other formats such as Word or PowerPoint, but none of them are 100% successful in their conversions, and results are variable at best.

Thank you Diane! This is the first solution that will possibly work. With the thought of my renewal of $75.44 and your solution of $47.99, it seems a no brainer! I will give it a try before my subscription with MS runs out.

I purchased a lifetime license and download of Microsoft Office 2021 from PCworld.com for 47.99. It was the only viable option I could see since Microsoft has refused to answer my messages in feedback though Inhaler asked for a reply. PC world recommended I uninstall my Microsoft Office 365 subscription before downloading 2021, but I did not and my hp desktop seems intelligent enough to handle both copies. It shows I am using the 2021 version and working fine. They offer other versions of Office ( Office Pro doesn't look like it has Publisher so be sure your ordering the right version if you decide to go this route. This version of publisher will remain on your computer when Office 365 stops it. Won't update after a while but will work as it does now, which is all I need. Hope it works for you. Price was no different than other brands of card printing software that had so much less capability than Publisher. Print Artist was 47.99 and only printed address and shipping labels; none of the specialty labels I use, like hershey kiss sized I make for family parties. So good luck. Hope this helps you.

I agree 100%, Microsoft is abandoning the user again just as they did with Microsoft Digital Image Suite Software. in the 90's. As far as I am concerned Microsoft previously had the best photo software Microsoft Digital Image Suite Software and now the best Publisher software, they are abandoned the user again and at the same time charging us more for 365. What does the MS Board think about their action or reputation. As other have stated at least let us keep a non-supported version for our use.

Having recently paid for another year for Microsoft 365 at a cost of almost double the amount than last year I am very concerned and not happy to find that Microsoft are discontinuing Microsoft Publisher. I have been using Publisher for a good number of years and I use Publisher for everything I do, making cards, posters, banners, etc. etc. etc. Word does nothing for me at all. It is absolute rubbish. Why are they discontinuing Publisher when it has always been such a success. I have heard so many complaints about this myself and it has put so many people off anything to do with Microsoft. If, and I mean IF they care to replace it with something else it must be user friendly and be completely honest in letting us know now what is being planned.