The Economist

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The Economist Group
TheEconomist.gif
Founded 1843
Headquarters London, U.K.
Key People Andrew Rashbass, The Economist Group chief executive; John Mickelthwaite, The Economist editor
Products The Economist, Economist intelligence Unit, CFO, EuroFinance, Roll Call
Website http://www.economistgroup.com

The Economist, which recently celebrated its 150th year, is one of the world's fastest-growing weekly news magazines and has circulation of over 1.3 million worldwide. The magazine's revenue, profit and readership have all increased substantially in recent years despite challenging times for the publishing sector.

History

The Economist was launched in 1843 by Scottish free-trader James Wilson in opposition to Britain's protectionist Corn Laws. It was later edited from 1861 to 1877 - when circulation stood at 3,700 - by the famous English political and constitutional writer Walter Bagehot.[1] The magazine has since built its credentials as a global-looking, economically liberal but politically independent publication that has lifted its circulation from 100,000 in 1970 to over 1 million currently (80 percent of it outside its native U.K.). The magazine has throughout its history maintained an unwavering stance for free trade.

The Economist continued its strong performance in 2007, boosting its circulation nine percent to 1,306,939 for the year ended March 31, 2008 and also lifted print advertising revenue in its American market 16 percent over the period.[2] The Economist Group grew revenue eight percent to £266.4m and operating profit up 23% to £44.3m

Key People

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Andrew Rashbass was named chief executive officer of The Economist Group in April 2008, succeeding the departing Helen Alexander. Rashbass joined The Economist Group in 1997 as chief information officer and later became managing director of Economist.com.[3] Prior to taking the top job Rashbass spent three years as the magazine's publisher and managing director, where he distinguished himself as a strong believer in print media and has derided efforts by technology companies such as Microsoft to 'engage' consumers with the electronic variety.[4] Before joining The Economist Group Rashbass was applications services director with British newspaper publisher Associated Newspapers Ltd. During the 11-year tenure of Rashbass's predecesor, Alexander, circulation at The Economist rose from 264,000 to 1.3 million, while over the past five years The Economist Group's operating profit has grown 75 percent.

Latest news

The Economist recently achieved a remarkable publishing-industry milestone when it topped Advertising Week magazine's annual Hot List for 2007, judged on several factors including its advertising revenue increase of 24 percent during the year.[5] The Economist beat out more lifestyle-focused publications including Real Simple, Harper's Bazaar, More and Vogue for the Hot List win and it also won AdWeek's 2007 Executive Team of the Year award.

References

  1. About our History. The Economist.
  2. Another excellent year of strong growth at The Economist Group. RNS - London Stock Exchange.
  3. Economist Group - CEO to step down. Reuters.
  4. The Economist de-rails Microsoft media love in. The Register.
  5. Economist Takes #1 Spot in AdWeek’s Hot List. Media Buyer & Planner.