"It was hard for planners to include it because it was in between regional and local, with about 70 per cent distribution in Hong Kong. If a client wanted to run a campaign aimed at the affluent, which was skewed towards Hong Kong, then yes, there would be a rationale to support it. But, not for a campaign across Asia,
The closure resulted in the retrenchment of 10 staff. Venture Asia Publishing managing director, Aravind Vasu, said: "We have suspended operations of Asian Bridge Media (The Hong Kong company in which Venture has a majority stake and which publishes Holiday) due to a legal dispute. The company may be liquidated but that has not been decided yet. The last issue of Holiday Asia was January/February."
Sources said shareholders had divergent views on the company's direction.
Vasu claimed that sales had picked up in the last few weeks following a decline after the September 11 terrorist attacks. However, the sizes of the last three issues were thinner than usual.
