U.S. newsweeklies trim foreign presence

[DeepModem Mom]

IHT: U.S. weeklies trim foreign presence
By Thomas Crampton, International Herald Tribune
SUNDAY, JANUARY 15, 2006
PARIS


Adapting to competition from the Internet in a downward advertising cycle, the largest U.S.-based newsweeklies have adopted sharply different tactics for the future of their international editions - and none of them involves expansion.

Editors at Newsweek, Time and BusinessWeek emphasize their commitment to international coverage. Yet within the last month, staff reductions at Time and Newsweek and the outright closure of BusinessWeek's international print edition will almost certainly reduce the amount of news and analysis of global affairs.

The wave of "cutbacks at these major U.S. news weeklies overseas is a significant event," said Doug Arthur, a publishing industry analyst in New York with Morgan Stanley. "You cannot help but see this as a major retreat."

In casting the pullbacks in a positive light, Newsweek points to its expansion into local language editions around the world, Time sees advantages in editing separate editions out of Asia and London, and BusinessWeek says it will seek its global audience through the Internet.

A soft advertising market and the efficiency of distribution via the Internet are the causes. Although the magazines are all profitable, U.S.-based advertising revenue for 2005 through November at Time was down 16 percent, at Newsweek off 13 percent and at Business Week down 11 percent, Arthur said, after three years that were already weak....


http://www.iht.com/articles/2006/01/15/business/papers16.php?rss