NEW YORK--(BUSINESS WIRE)--Bloomberg Businessweek has signed a new licensing agreement with Modern Media Holdings Limited to publish the Chinese edition of Bloomberg Businessweek magazine within the People's Republic of China. The agreement will allow Bloomberg Businessweek to expand its reach among globally-minded business leaders within this growing market and provide readers rare access to CEOs, dealmakers and industrial leaders from around the world.
The monthly Bloomberg Businessweek/China will feature content from Bloomberg's 2,300 journalists worldwide including over 100 based in China, as well as locally-focused business and financial content produced by Modern Media Holdings Limited, one of the leading integrated media companies in China. Modern Media Holdings Limited will manage and be responsible for the content of Bloomberg Businessweek/China which will be published in simplified Chinese.
This partnership further demonstrates Bloomberg's commitment to global reach and continued growth. The global edition of Bloomberg Businessweek posted a 67% increase in advertising pages year-over-year in 2011 through February (according to the Publishers Information Bureau) and the addition of 37,000 individually paid subscribers in the second half of 2010 versus the prior year (according to the Audit Bureau of Circulation). This kind of momentum supports research that readers and advertisers are embracing the relaunched Bloomberg Businessweek.
“Bloomberg Businessweek and Modern Media Holdings are committed to high journalistic standards and integrity to produce a magazine that will inform the growing business audience in China,” said Paul Bascobert, President of Bloomberg Businessweek. “We have a long-term commitment to doing business in China and look forward to working with a recognized leader who will produce a high quality product and extend our reach in this important market."
"We are pleased to bring the high standards of Bloomberg Businessweek to China's thriving business community,” said Modern Media Chairman and Founder Thomas Shao. “Together we will expand the reach of Bloomberg Businessweek's unique content to this important global marketplace."
About Bloomberg Businessweek
Bloomberg Businessweek is a trusted source of essential, comprehensive insight that business leaders depend on to get ahead. Bloomberg Businessweek offers a global perspective to help senior executives profit from smarter, faster, and more informed decisions. Founded in 1929, the magazine is a market leader, with more than 4.7 million readers each week in 140 countries. Drawing on more than 2,300 journalists in 146 bureaus across 72 countries, Bloomberg Businessweek covers the business world like no one else can.