Asiaweek shuts down and sparks media debate

HONG KONG: The decision by Time Inc to fold Asiaweek has sparked a

debate over whether the market for Asia-specific publications is

shrinking.

The title, which had been publishing as a weekly since 1975, was

relaunched early this year as a magazine described by Asiaweek president

and publisher Peter Brack as "Red Herring meets Fortune meets Vanity

Fair".

A new focus on technology and business was aimed at meeting the needs of

a new and younger generation of high-tech and lifestyle-savvy business

executives.

However, OMD director Chris Skinner said: "I don't think they got it

totally right with the relaunch because it seemed to become somewhat

general."

However, he added that the relaunch of the magazine came as Asia's

social, political and economic landscape was in the midst of dramatic

change.

"Asiaweek is in a difficult category to position because it's not clear

if the magazine was targeted at Western expatriates or English-speaking

Asians or both."

MindShare Hong Kong managing director K.K. Tsang expressed surprise at

the closure. "Magazines such as Asia week do have a niche because they

give English-speaking people a unique insight into Asian business,

politics and lifestyle."