Business Week shuts Asia edition

Business Week vice-president and managing director Tom Masterson has admitted that competition from online news sources and changes in readership habits are responsible for the closure of the publication in Asia (Media online, Dec 7). Speaking to Media, Masterson said drops in circulation and adsales were not the reason behind the move to shut down its Asia and Europe operations. "It wasn't a great year, but it wasn't a bad year," he said. He added that the decision was prompted by a growing need to move online with readers and advertisers, as part of a repositioning strategy from the global title. Up to 60 staff globally are expected to be affected by the closure.