SHANGHAI, March 5 (Reuters) – The London-based Economist Group, half owned by a unit of Pearson Plc, will this month close down its CFO magazine business in Asia, as the global financial crisis squeezes advertising revenue. The decision to shut the English-language CFO Asia and Chinese-language CFO China does not affect the separately run CFO businesses in America and Europe, the group said in an e-mailed statement.
CFO, a monthly publication that targets finance executives, employs 17 editorial staff in Asia. “Circulation and marketing the business has consistently failed to generate the returns required and looking forward the poor economic conditions made the outlook for the magazines unviable,” Economist Group Asia Pacific managing director Tim Pinnegar said in the statement. Source: Min Online
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