HONG KONG, Sept. 21, 2009 (GLOBE NEWSWIRE) -- This fall, Dow Jones & Company will focus on its core publications to better serve readers and advertisers in key markets, both in print and online, to catapult the company's growth in the burgeoning Asian marketplace.
As a result, the Far Eastern Economic Review will cease publication in December so opinion and commentary resources from Asia can be expanded across all Dow Jones properties. Unfortunately, despite several attempts at invigorating the brand, the REVIEW's continued losses in advertising revenue and readers are now unsustainable.
Dow Jones has expanded local content from Asia in The Wall Street Journal print and online editions with an expanded news hole, redesigned WSJ.com, expansion of chinese.WSJ.com, new mobile content delivery via BlackBerry and iPhone devices, and the launch of a Japanese-language Web site coming this fall.
These investments into Dow Jones Asia have translated into an increased print circulation of 6.3% year-over-year for the Jan.-June period, led by a substantial increase in subscriptions, with particularly significant growth in Hong Kong, India, Malaysia and Taiwan. Average daily circulation also increased to 85,822 copies from 80,706 year-over-year.
"By increasing resources into growth areas at Dow Jones, we'll better serve a diverse group of readers and advertisers across Asia," said Christine Brendle, publisher of The Wall Street Journal Asia and managing director, Asia, Dow Jones Consumer Media Group.
"The decision to cease publication of the REVIEW is a difficult one made after a careful study of the magazine's prospects in a challenging business climate," said Todd Larsen, chief operating officer at Dow Jones Consumer Media Group. "It has a rich history of pioneering journalism and helped to set the standard for the press in Asia in the post-World War II era when local publications often lacked the freedom to report honestly. Dow Jones is proud to have been associated with the REVIEW and its invaluable contributions to the understanding of the Asia region."
Hugo Restall, the REVIEW's editor since Oct. 2004, will remain a member of The Wall Street Journal editorial board, which he joined in Feb. 2004. Mr. Restall served as editorial page editor of The Wall Street Journal Asia from 1999 to 2003.
Current REVIEW subscribers will be offered a one-year subscription to asia.wsj.com, the regionally dedicated edition of the leading provider of business and financial news and analysis on the Web.
The Far Eastern Economic Review was launched in 1946.
About Dow Jones & Company
Dow Jones & Company (www.dowjones.com) is a News Corporation company (Nasdaq:NWS) (Nasdaq:NWS.A); (ASX:NWS), (ASX:NWSLV) (www.newscorp.com). Dow Jones is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Dow Jones Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones owns 50% of SmartMoney and 33% of STOXX Ltd. and provides news content to radio stations in the U.S.