Timing of change surprises analyst
With advertising on the way up, weekly appeared to have survived the worst
A media analyst yesterday reacted with surprise at the timing of the change in format of the Far Eastern Economic Review.
'It is a bit surprising for us that it happened now,' said Andras Vigh, chief executive of Zenith Optimedia. 'If it had happened one or two years ago it would have been less of a surprise.'
He said the Asia-based Review had been involved in a head-on battle with global titles like Time, BusinessWeek and The Economist.
'It is true the competition is stronger and more competitive than before between the weekly news titles.
'The others are still performing well.
'For us it looks a lot like an efficiency move that will make it a lot cheaper to support as a monthly.
'The big question is, can they make the change into a worthwhile magazine format?'
He said the strength and appeal of the Review had been its experienced reporters out in the field.
'For the readers this was a big drawcard, but with so many staff around the region the cost base could not be very low.
'For me, the timing of the announcement is a surprise because I felt one year ago it was very tough for regional titles, with many making cuts and not spending that much.
'But now advertising is back on the way up,' Mr Vigh said.
Veteran correspondent Harvey Stockwin, a former Review employee, said the decision was shameful and the 'end of an era'.
He said it represented a blow against freedom of the press in Asia.
'Previously we had reporters who took their lives in their hands and reported from the field what was going on in the tyrannies of Asia.
'It was the voice of the grassroots upwards but now it is going to be the mouthpiece of the elite downwards.'
