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Business Week To Publish New Magazine for Wealthy

December 18, 1989

NEW YORK (AP) _ McGraw-Hill Inc.’s Business Week magazine plans to publish a new magazine designed for wealthy people twice a year starting in 1990, Business Week publisher John W. Patten said Monday.

The new magazine will be called Assets, and it will be sent for free to 400,000 to 500,000 people, many of whom already subscribe to Business Week, the statement said. Business Week’s worldwide circulation exceeds 1 million.

Business Week editor-in-chief Stephen B. Shepard said the new magazine will deal with ″personal finance and executive living″ and will be about ″people and ideas as well as products and investments.″

The first issue will be a companion to Business Week’s bonus issue called ″Innovation″ that is to be published in June, while the second will be published with the ″Corporate Elite″ issue of Business Week in the fall.

Assets will be a stand-alone magazine separate from those issues of Business Week, but will not be available on newstands, spokeswoman Christine Summerson said.

In a statement, Patten said Assets ″will not just be another magazine with fluff articles about how the other half lives.″

″It is for and about people who are reaching a time in life when they are facing new challenges, both personal and financial,″ he said.

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