Far Eastern Economic Review to down shutters
22 Sep 2009
Dow Jones & Company, best known for its flagship newspaper, The Wall Street Journal, and the Dow Jones Industrial Index, has decided to shut down its 45-year old English-language news magazine The Far Eastern Economic Review.
The magazine, which was in print since 1946, will close in December after losing readership and advertising revenue, Dow Jones said in a statement.
''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,'' Todd Larsen, chief operating officer at the Dow Jones Consumer Media Group, said in the statement on Sunday.
The magazine, which is based in Hong Kong, is unsustainable ''despite several attempts at invigorating the brand,'' the statement said.
The Review has been wholly owned by Dow Jones since 1987, and was published as a weekly until 2004, when it was changed into a monthly.
Dow Jones and Co was founded in 1882 by Charles Henry Dow, Edward Davis Jones and Charles Milford Bergstresser, who provided subscribers with daily handwritten bulletins of business news.