Come April and
Outlook will add another magazine, Newsweek, to its kitty. Newsweek is currently priced at Rs 80 in India, at par with its competitor Time magazine.
Under the agreement, which comes into effect from April 3, Outlook will be responsible for all the operations of Newsweek in India. In an official communiqué, Harold Shain, president and COO, Newsweek, says, "By forming the alliances with the leaders in local markets, we have established an overseas market. The Outlook group will help us to further this cause."
Speaking to agencyfaqs!, Maheshwar Peri, president and publisher, Outlook group, says, "According to the agreement, the pricing, the marketing of the product and the distribution will be handled by the group."
Peri adds, "Our main strategy would be to increase the circulation. Though its working price is Rs 80, there might be a decrease in the price. We might as well work on the price, but that can only be finalised once we start handling the product."
About the changes that can be expected from the magazine once it joins the Outlook group, Peri says, "You can expect a dash of local flavour to the magazine through local ads. But nothing has been finalised as yet. We are still in the initial stages to formulate the plan."
© 2006 agencyfaqs!