The Outlook group, publisher of the English weekly newsmagazine Outlook, has taken over the Indian operations of the US-based Newsweek magazine.
Outlook will relaunch Newsweek in the country in April this year at the price of an Indian magazine with Indian advertising. However, the magazine will have the same content as that of the international edition.
"Today it is sold at Rs 80 per copy. To make it a mass product we will have to sell it at the prevailing price in the country. We will also undertake a brand promotion exercise," said Maheshwar Peri, president and publisher, Outlook.
Magazines such as India Today and Outlook are priced at Rs 15. Under the agreement with Outlook, Newsweek will be printed in Singapore and have advertisements specifically targeted at India. The present Indian laws do not permit international magazines and newspapers to print in the country with India specific advertisements and news content.
According to Peri, Newsweek, with sales of 13,000 copies in India, will double its circulation inside 12 months. "We will be able to break the price barrier, which is the key in making the product affordable," he said.
He also said that companies were willing to a licensing agreement, if the government changes the present norms. The Outlook group recently entered into an agreement to bring the leading international women's magazine Marie Claire to India.
Groupe Marie Claire, the French publishing company and owner of Marie Claire publishes 12 magazines in France, and 39 international editions of the magazine and its sister magazines in 26 countries in 14 languages. In the case of Marie Claire, the Indian edition is being produced, edited and printed in India.
