An announced and expected dead.
Is Time next?
News weekly magazines are in trouble… as “Daily-News-Magazine” newspapers are taking over.
What readers need is not a summary of yesterday’s week or day, but why, what’s next, analytical and strategic journalism.
Post news media.
Post television media.
Post-online media.
Bill Clinton TALKS.
Let’s hope that he DOES something else.
And all us DO the same.
Int he USA, text HAITI to 90999 to donate $10 to @RedCross relief.
(Picture by Shaul Schwarz/Getty for TIME/CNN)
It’s now the BBW magazine.
At a discount price, Bloomberg made a good deal.
The price was said to be near $5 million, plus assumption of liabilities, which were $31.9 million as of April.
Founded in 1929, BusinessWeek – once valued at more than $1 billion — will to lose roughly $40 million this year.
What’s next?
With a circulation of about 921,000, the new BBW will become a more targeted publication.
Massive cuts in the 400 people newsroom, yes more than 400!
The Bloomberg’s staff of 2,200 reporters, editors and photographers can do this magazine with just a few people from the old brand.
And the will make money, for sure.
Not doing another The Economist.
Right now he sells to The Economist readers many o the 280,000 Bloomberg terminals to subscribers paying upwards of $1,500 a month.
Norman Pearlstine, a former managing editor for The Wall Street Journal and Time Inc.’s former editor-in-chief will run the new show.
Pearlstine is now Bloomberg’s chief content officer and will become BusinessWeek’s chairman.
The McGraw-Hill magazine, founded in 1929, that lost 30 percent of its advertising revenue in the second quarter, is up for sale.
BW has almost 190 editorial staff, and 4.8 million readers weekly in 140 countries.
The magazine was redesigned in 2007.
BusinessWeek.com added only $30 million in digital revenue in 2008.
The crisis of BW is the crisis of all the newsweekly magazines.
Quality newspapers today cover business better than ever, and the WSJ or the FT provide daily coverage of a high caliber.
Bloomberg and Thomson Reuters offer real-time news all the time.
So, why buy a magazine once a week that will go over the same issues?
The Economist in a exception because it’s not just a business magazine, and because it is an international outlet that reaches one of the most powerful and sophisticated audiences in the world.
Like Time or Newsweek, BusinessWeek has no place under the new digital sun.
Time will be sold, and will die later.
Newsweek will be shutdown very soon.
And BusinessWeek will survive for awhile before it dies.
Forbes and Fortune are the next victims.
Business news is a 24/7 operation and BusinessWeek didn’t lead this real-time revolution.
Bloomberg did it, and makes more money than anybody else.
Follow the story in the Twitter of John Byrne, the editor-in-chief of BW.
I asked INNOVATION Director Thomaz Souto Correa about the ASME winners and these are his remarks:
The best cover of the year is really … the best cover of the year: New Yorker, September 11.
It is a double cover, and – in my view – has to be shown in two steps.
First, the reader sees the white cover, with the walker suspended in the air.
When you open the magazine, you see a second cover, where the reader sees ground zero
down below.
It’s brilliant and innovative.
The second best cover, in my opinion, is Time’s cover with the elephant going away.
It’s the winner in the “best concept cover,” and it’s also brilliant and innovative.
Creativity has to be reinforced, because it is in a very low moment…
Thomaz Souto Correa was the executive vice president of Editora Abril and past president of the International Federation of the Periodical Press (FIPP), and now is working with Juan Cano and Guillermo Nagore on the first Innovations in Magazines Global Report.
