Associated to defy advertising slump with Money launch

Associated Newspapers is to defy the downturn in the publishing

industry with the launch of a standalone glossy monthly aimed at the

personal finance market.



The magazine, titled Money, will launch in January with a print run of

200,000 and cover price of £2.50, undercutting the cost of

existing financial titles such as Berkley Magazines' Moneywise.

Associated has set a target circulation of 100,000 after the first

year.



"We aim to take the number-one market slot within 12 months," said Chris

Grimes, the former head of business development at The National Magazine

Company, who was brought in to co-ordinate the launch. "We have 2.6

million unique readers of The Financial Mail and that gives us a great

platform to go out and attack the marketplace."



Money will carry full Financial Mail on Sunday branding on its cover and

will draw on the editorial resources of the newspaper. The Financial

Mail on Sunday editor, Ben Laurance, and the personal finance editor,

Jeff Prestridge, will both work on Money alongside its editor, Claire

Oldfield.



Money's 100 pages will incorporate financial reporting with lifestyle

stories aimed at an ABC1 audience over the age of 35.



"The response of advertisers has been positive and we believe Money will

be a success despite the tough market," Grimes said."We're confident we

can deliver fantastic readership and circulation."



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