BusinessWeek to stop printing Asia, Europe editions

When the Net is nibbling away at the territory of traditional media, BusinessWeek, the US-based commercial magazine of world largest circulation, will soon stop printing its Asian and European editions. At the same time, many other business magazines are also struggling with declining advertisement sales, the International Finance News reported.

It is still unknown when will the decision take effect, an insider says, but it's certain that related employees will be cut. As a substitute, special digital versions for these two regions will be launched. Meanwhile, the US edition, as a globally circulated print version, will be sold in Asia and Europe.

A person in charge of the magazine declined to comment. But sources say the cut is most probably related with high transport costs in vast lands of the two continents.

A news release of the McGraw-Hill Companies, publisher of BusinessWeek, says "For the first half of 2005, earnings per share from continuing operations were $0.71 versus $0.63 for the same period last year." "A record performance at Financial Services and a solid increase at McGraw-Hill Education were key to our second quarter results," said Harold McGraw III, chairman, president and chief executive officer of the McGraw-Hill Companies.

BusinessWeek launched its Asian and European editions in 1996. Circulation of the former surpassed 80,000. Since 1997, the Asian edition has always been "the most important regional business magazine" in readership surveys among Asian businessmen.

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Published by the McGraw-Hill Companies, BusinessWeek boasts 5.5 million readers from 130 countries and a weekly circulation of 1.2 million copies, being the world largest business magazine. Its global team includes more than 240 editors and correspondents stationed in 22 news agencies, having the biggest number of full-time correspondents (including science, technology and finance experts) among world magazines of its kind.

By People's Daily Online