BusinessWeek to close Asia and Europe ops

Media has learned BusinessWeek magazine will close its Asia and Europe operations, effective from January 2006. The move comes just six months after former VP of worldwide circulation Tom Masterson was appointed VP and MD of Asia. Commenting on advertising in Asia earlier this year, Masterson said: "While Asia has held up better than the US and Europe, 2005 isn't as strong as last year." Masterson replaced Alan Lammin in the top role, who departed to head up rival Time magazine as publishing director earlier this year. BusinessWeek's US-based president and publisher Bill Kupper, said no comment would be made until a corporate announcement was released.