German media holding Axel Springer AG has closed one of its blueprint weekly magazines in Russia, Russian Newsweek, "with respect to economic reasons," Axel Springer Russia said in a statement.
Axel Springer had been publishing Russian Newsweek since 2004, but the group's publishing license ran out this fall and the publisher's management did not want to extend it, citing economic losses.
"We are proud that Russky Newsweek has been prominent, award-winning and met the highest standards of journalistic work for six years... Unfortunately, we have failed to bring the magazine to a firm economic base and we could not create a prosperous perspective," the president Axel Springer International, Ralph Buechi, said in the statement.
Earlier Russian Newsweek held talks with several media holdings and private investors over the purchase of the magazine. In particular, Russian tycoons Mikhail Prokhorov, Alisher Usmanov with his Kommersant publisher and Gazprom-media of Russia's Gazprom were in talks with Axel Springer, but the deal fell through.
On October 18, the last issue of Russian Newsweek was released picturing the portrait of Sergey Sobyanin, nominated for mayor of Moscow.
Media experts all around the world say that weekly magazines are living out their final days since people do not need the facts that they had already known in the beginning of the week.
Internet provides immediate access to "burning" information and makes the content of weekly magazines useless, even despite its high quality and profound analysis.
Among the possible reasons of Newsweek's death in Russia, some experts note political risks. Following the Anglo-Saxon journalism, Russian Newsweek often published comprehensive, sometimes Kremlin-criticizing articles.
Axel Springer remains the publisher of Forbes, OK, ComputerBild, GEO, GALA Biography, GEO Traveller as well as GEOLENOK magazines in Russia.
MOSCOW, October 19 (RIA Novosti)
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- firstname.lastname@example.orgIt is tough to compete against RIA Novosti20:58, 19/10/2010I can understand the economic reasons to stop production of Russia Newsweek especially when this print magazine is competing against the likes of RIA Novosti for delivering timely and interesting Russian news, info graphics and articles on Russian life on an up to the minute daily basis. It is hard to print the current news and expect people to purchase it when it is five days old. Russia Newsweek would have had to more to capture a reader base.
RIA Novosti is so efficient with its worldwide news coverage especially the news regarding Russia, Europe and other countries from around the world that I do not even bother with American news sources anymore that tend to focus on meaningless entertainment news and the latest tragedy. Intelligent news seems to be missing from America. Thank heavens for RIA Novosti.
The news coming from RIA Novosti seems to be very well balanced and focuses on important issues rather than on the current latest worldwide disaster which also dominates western news coverage.
The news coverage by RIA Novosti is smart and intelligent and it is probably one of the reasons why Russia Newsweek had to stop production. It is hard to compete against such well thought out journalism the is executed in an online daily format.
May RIA Novosti continue with its efficient reporting of international political news, Russian defense news and other interesting articles on Russian life. Your coverage of Russia and Europe is both educational, newsworthy, intelligent and very interesting for readers like myself.
As a reader I also appreciate the ability to make comments on the articles I like, as it allows me to get involved with the news I am reading. For me this is half the fun of visiting RIA Novosti.
The growing outright rivalry between the United States and China gives Russia more foreign policy weight, enabling it to assume the role of a balancer. So far it has been doing so rather skillfully. Today it may participate in a joint naval exercise with China that Beijing positions as outwardly anti-American. But tomorrow it can team up with the naval forces of the Old World.