Asiaweek shuts down and sparks media debate

<p>HONG KONG: The decision by Time Inc to fold Asiaweek has sparked a </p><p>debate over whether the market for Asia-specific publications is </p><p>shrinking. </p><p><BR><BR> </p><p>The title, which had been publishing as a weekly since 1975, was </p><p>relaunched early this year as a magazine described by Asiaweek president </p><p>and publisher Peter Brack as "Red Herring meets Fortune meets Vanity </p><p>Fair". </p><p><BR><BR> </p><p>A new focus on technology and business was aimed at meeting the needs of </p><p>a new and younger generation of high-tech and lifestyle-savvy business </p><p>executives. </p><p><BR><BR> </p><p>However, OMD director Chris Skinner said: "I don't think they got it </p><p>totally right with the relaunch because it seemed to become somewhat </p><p>general." </p><p><BR><BR> </p><p>However, he added that the relaunch of the magazine came as Asia's </p><p>social, political and economic landscape was in the midst of dramatic </p><p>change. </p><p><BR><BR> </p><p>"Asiaweek is in a difficult category to position because it's not clear </p><p>if the magazine was targeted at Western expatriates or English-speaking </p><p>Asians or both." </p><p><BR><BR> </p><p>MindShare Hong Kong managing director K.K. Tsang expressed surprise at </p><p>the closure. "Magazines such as Asia week do have a niche because they </p><p>give English-speaking people a unique insight into Asian business, </p><p>politics and lifestyle." </p><p><BR><BR> </p>