Bloomberg Businessweek to publish Hong Kong edition

Bloomberg Businessweek announced a new licensing agreement with Modern Media Holdings Limited to publish a traditional Chinese-language edition of the magazine in Hong Kong.

The Bloomberg Businessweek/Chinese edition will be distributed every Wednesday in Hong Kong.

The new edition will feature locally-focused business and financial content from Bloomberg News’ 26 Asian news bureaus and Modern Media Holdings. The magazine will also be available across mobile and tablet platforms.

“We are committed to delivering a great magazine to our readers in Greater China that has engaging stories about who and what will be shaping the local business landscape next,” said Paul Bascobert, president of Bloomberg Businessweek, in a statement. “Modern Media is the right partner for Bloomberg Businessweek/Chinese Edition, as it has demonstrated a keen understanding of the market, and is able to smartly integrate Bloomberg’s reporting with its original content.”

Since Bloomberg LP acquired the magazine from McGraw-Hill at the end of 2009, its individually paid subscribers have increased  37 percent through the end of 2012, according to the Audit Bureau of Circulation, and ad pages increased 19.5 percent in that same period, as stated by Publishers Information Bureau.

In January 2012, the magazine’s global rate base increased from 900,000 to 980,000 and dedicated regional editions were launched in Europe and Asia. Bloomberg Businessweek’s circulation in Asia doubled over 2012, and according to the BE Asia 2012 survey, 50 percent of Bloomberg Businessweek’s Asia edition are in the executive suite.