THAT once-beleaguered magazine, Asia Week, appears to have turned the financial corner with a flourish. Now boasting sales of 100,000 a week in Hong Kong, Singapore and the Philippines, it is about to welcome Asia veteran Jack Maisano as president in what is being seen by industry sources as a surprise move but also a validation of its success.
Maisano has been lured over to the New York-based Time Incorporated company, which owns Asia Week, after spending 15 years with the Far East Trade Press (FETP), latterly as general manager.
Some are speculating that the 48-year-old, well-known in publishing circles, was getting tired of dealing with the owners of FETP Ltd, the Times Publishing Group based in Singapore, a country not known for the freedom of its press.
However, others say he had already reached the top of one tree and fancied climbing another.
Maisano, a New Yorker who has been in Hong Kong since 1974, arrived after spending three years with the Peace Corps.
He first took a job as editor with Asian Business. When contacted by Keeping Posted he would not comment on the move except to say he expected to take up his new position in a month or so.
A few years ago, Asia Week was in trouble, having been offering large discounts to advertisers but without the sales to match. It was rumoured to have been dumping many of its editions in the Philippines.