The Reader’s Digest Association is dropping its high-profile joint venture with TV evangelist Rick Warren, due to a lack of subscriptions to the Purpose Driven Connection, The Post has learned.

The magazine will cease publication after the Christmas issue due out in mid-November.

Warren, the pastor of Saddleback Church in California and author of the bestselling book “Purpose Driven Life” said that he and RDA will transition the project into a web only venture over the next few months.

RDA, which is operating in Chapter 11 bankruptcy, will cease funding the operation entirely in March 2010 and turn the project over to the Warren’s company.

Frank Lalli, a veteran editor of Money and George magazine who had been overseeing the venture for RDA, is exiting the company.