Dubai, June 21, 2011 - FORTUNE has launched a local edition in UAE and Kuwait, it was announced today by Jim Jacovides of Time Inc. and Bashar Kiwan of AWI company. These are the first two markets where Fortune Arabia will be launched, followed by an additional five local editions scheduled for release in 2012 that will cover the GCC and LEVANT. With these seven local editions, FORTUNE will publish 13 foreign-language editions, including FORTUNE China, FORTUNE Turkey, FORTUNE Korea, FORTUNE Indonesia, the recently launched FORTUNE India as well as the twice-yearly special issues of FORTUNE Greece.
FORTUNE's Middle East editions will be published monthly, in Arabic, through a license agreement between Time Inc. and AWI Company. The launch of FORTUNE Arabia demonstrates a successful partnership between Time Inc. and AWI Company, a leader in developing and establishing international and local quality publications in Arabic, catering to the local needs of each market in the Arab region. Time Inc. and AWI expect FORTUNE Arabia to raise the standard of in-depth-business journalism and become a leading title in the Arab business magazine market.
"With the economic shift taking place in the Arab world and the rise of corporate Arabia, the market requires a serious, high standard business title to provide the right analysis and information. There is no better partner to help us seize this opportunity than Time Inc. with their leading title, FORTUNE magazine," says Bashar Kiwan, CEO and Chairman of AWI Company.
"The Middle East is an increasingly important player in global business. With AWI, we are confident that the FORTUNE Middle East editions will provide in-depth analysis of business news globally, regionally and by country," says Jim Jacovides, Time Inc., Vice President, International Licensing and Development.
"AWI has built a successful portfolio of magazines that are respected for their quality editorial standards, deep understanding of local readers' needs and wide circulation. We intend to expand our successful formula to Fortune Arabia", says Majd Sleiman, COO of AWI Company.
"FORTUNE is excited to partner with AWI to bring FORTUNE's trademark in-depth business journalism to readers in the Middle East," said Stephanie Mehta, executive editor of FORTUNE, New York.
The FORTUNE Arabia team is run and headed by Elie Wakim, Vice President Magazines at AWI Company along with the Publisher, Komal Bajaj and Managing Editor, Bilal Hijjawi.
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About FORTUNE
FORTUNE magazine is a global leader in business journalism with a domestic circulation of over 850,000 and a global readership of nearly 5 million, which include major franchises such as the FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live Media extends the brand's mission into live events, hosting a wide range of annual conferences, including FORTUNE's Most Powerful Women and the FORTUNE Global Forum. FORTUNE publishes English-language editions in Europe and Asia, and local-language editions in China, Turkey, South Korea, Indonesia, India and Greece. CNNMoney.com, is the online home of FORTUNE.com, which draws 5.7 million readers a month.
Contact:
Daniel Kile
Director, Public Relations, TIME/FORTUNE/MONEY/CNNMONEY.com
+1.212.522.3640
Daniel_Kile@timeinc.com
About AWI Company
AWI Company specializes in print media development; it owns and publishes several leading titles spread over thirty eight cities in the Middle East, Africa and Europe. Also known for continually acquiring and developing new titles, AWI has established itself as a pioneer in the publishing industry. AWI's success hinges on three fundamental key factors: developing local editions; increasing circulation by city and offering a great advertising opportunity to their clientele. AWI's portfolio includes the leading monthly social title in the region Layalina, it also publishes Marie Claire Arabia, Gala, BBC Top Gear, and is proud to announce the addition of Fortune Arabia.
Contact:
Elie Wakim
Group Magazine Vice President
+9714 4482800
elie.wakim@awicompany.com
© Press Release 2011
