Dow Jones, which also publishes The Wall Street Journal, said the Review‘s closure would allow the company to focus on “core products” and “key markets” like India, China and Japan in order to boost the company’s growth in Asia.
“Unfortunately, despite several attempts at invigorating the brand, the Review‘s continued losses in advertising revenue and readers are now unsustainable,” Dow Jones said. The pub’s opinion and commentary will now be spread across Dow Jones’ other outlets.
Dow Jones has recently worked to expand its local content in Asia, launching a locally printed version of The Wall Street Journal Asia in India in May, expanding the chinese.WSJ.com and preparing to launch a Japanese language site later this year. There have also been some recent staff changes at the Journal‘s Asian and European editions. Just last month, Bret Stephens was appointed deputy editorial page editor for the paper’s editions in Europe and Asia, where one of his duties was to over see the Review.
Dow Jones said yesterday that its investments into its Asian operations have resulted in a 6.3 percent increase in print circulation during the first six months of the year. The company has seen “significant growth” in Hong Kong, India, Malaysia and Taiwan with daily circulation growing to 85,822 copies from 80,706 year over year.
But despite its growth in Asia in other areas, Dow Jones said the Review, which was launched in 1946, has become a drain on the company.
“The decision to cease publication of the Review is a difficult one made after a careful study of the magazine’s prospects in a challenging business climate,” said Todd Larsen, chief operating officer at Dow Jones Consumer Media Group. “It has a rich history of pioneering journalism and helped to set the standard for the press in Asia in the post-World War II era when local publications often lacked the freedom to report honestly. Dow Jones is proud to have been associated with the Review and its invaluable contributions to the understanding of the Asia region.”
Hugo Restall, who has served as the Review‘s editor since 2004, will remain a member of the Journal‘s editorial board. Meanwhile, Review subscribers will get a one-year subscription to asia.wsj.com.