Bloomberg Businessweek's China Edition Re-launched in Growing and Important Market Through Agreement with Modern Media Holdings Limited and CCTP

SHANGHAI--(BUSINESS WIRE)--Bloomberg Businessweek/China magazine has officially re-launched in the People's Republic of China through a licensing agreement among Bloomberg Businessweek, Modern Media Holdings Limited and China Commerce and Trade Press (CCTP).

Starting with the issue on newsstands in China this week, Bloomberg Businessweek/China will be published in simplified Chinese twice per month and will feature locally-focused business and financial content produced by Modern Media Holdings Limited, one of the leading integrated media companies in China. The magazine will also include content from Bloomberg's 2,300 financial journalists worldwide including over 100 based in China. Modern Media Holdings Limited will manage and be responsible for the content of Bloomberg Businessweek/China. The targeted circulation of the magazine is 350,000 focused on an audience of business elite in 30 cities across China, according to Modern Media.

The agreement, which was first announced in March 2011, allows 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 reinvention of Businessweek under Bloomberg has been celebrated by both readers and advertisers for its dedication to innovative editorial and design, distinct personality and engaging, graphic stories about current and future business leaders. Bloomberg Businessweek continues to expand its readership. In the first half of 2011, individually paid subscriptions grew 11.8 percent, according to the Audit Bureau of Circulation. In January 2012, the magazine's global rate base will increase from 900,000 to 980,000 and the magazine will launch dedicated regional editions in Asia and Europe.

Bloomberg Businessweek's advertising continues to grow, with the magazine posting a 25 percent increase in advertising pages year-over-year through October 2011, according to the Publishers Information Bureau.

"Working with Modern Media Holdings, Bloomberg Businessweek/China will inform the growing business audience in China with the most relevant financial data and market information that business leaders in other world financial centers find indispensable," said Paul Bascobert, President of Bloomberg Businessweek. "We look forward to a successful publishing partnership with one of the leading integrated media companies in China."

"Since the establishment of Modern Media, we have been devoted to creating internationalized, upbeat and top quality media products. We are honored to partner with Bloomberg and CCTP in re-launching Bloomberg Businessweek/China," said Modern Media Chairman and Founder Thomas Shao. "We will stick to the concept of 'Lead, Don't Follow,' and focus on the transforming Chinese business society in a broader global surrounding. We hope to promote the deepening mutual understanding and integration between China and the world. While focusing on the global business world, we will provide the perspective from China. While describing China, we will try to explore its relevant global significance. We will always concentrate on free market, fair society, and technological innovation. We believe business activities will promote the progress of a broader society and the awakening of a new business civilization."

"The revamped Bloomberg Businessweek/China will be delivering content in a richer, faster way and better catering to the needs of Chinese business readers," said Yan Weijing, CCTP President.

About Bloomberg Businessweek

Named one of the most successful and influential magazines of 2011 by Adweek, 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 business 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 financial journalists in 146 bureaus across 72 countries, Bloomberg Businessweek covers the business world like no one else can.

About Modern Media Holdings

Founded in 1999, Modern Media Group is the first Chinese local media enterprise to be listed in Hong Kong Main Board (HK:0072). It has quickly become a leading integrated media company in China, through the publication of an array of award-winning magazines covering areas of news, finance, life-style, art and culture, plus app iWeekly for iPad and iPhone, and the upcoming Modern TV.

About China Commerce and trade Press (CCTP)

China Commerce and Trade Press, established in January 1980, is a publishing company under the Ministry of Commerce of the People's Republic of China at the central level. The objective of CCTP is "focusing itself on foreign trade and economic cooperation with a global vision" and rendering services for the development of China's foreign trade and economic cooperation and the international economic and cultural exchange.

Contacts

Media:
Bloomberg communications:
Rachel Nagler, 212-617-7187 (NY)
rnagler@bloomberg.net
or
Stella Xu, +86-10-66497551
Mobile: +86-13901249269 (BJ)
sxu43@bloomberg.net
or
Modern Media:
Amelia Wang, +86-10-65615550
wangxinying@modernmedia.com.cn