Germany's Axel Springer gives up publishing Russian edition of Newsweek
BERLIN – German publisher Axel Springer AG says it is ending publication of the Russian edition of Newsweek after failing to put the newsmagazine on a "firm economic base."
Springer said Monday's edition of the Russian Newsweek will be the last. Editor-in-chief Mikhail Fishman will move to another job as a correspondent for Russia and other former Soviet countries for Springer's Die Welt group of newspapers, AP reported.
The German company said it will continue to publish the Russian edition of Forbes magazine among other titles.
Springer has published the Russian Newsweek under a license agreement with Newsweek Inc. since 2004.
Axel Springer International president Ralph Buechi said it decided against extending the deal because "we could not create a prosperous perspective."
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