The Business has confirmed plans to launch as “Britain’s first weekly international business magazine” in October.
The new mag will take the place of The Business newspaper – which has struggling commercially for most of the time since it launched in 1996 and will go out for the last time on October 1.
The new full colour 72 page saddle-stitched magazine will be on sale every Thursday. And it will be part of a new Press Holdings Magazine Publishing Group along with The Spectator and arts and antiques magazine Apollo. Andrew Neil will be chief executive of the new group.
Neil said: “All of us at The Business and the owners are very proud of the editorial quality of the newspaper.
“Qualitative and quantitative research has shown there is a gap in the market for a business magazine aimed at metropolitan, young, affluent readers. The Business will be Britain’s first weekly magazine dedicated exclusively to business.
"One of the reasons for changing the format and publication date, is that the newspaper is crowded out on a Sunday. People feel that they have enough to read on a Sunday as it is.
"We will now get this into business people's hands before the weekend.
“It will be a London-based international business magazine and the voice of London as an international business centre.”
The Business weekly magazine will be edited by Ian Watson, and will be staffed by the existing editorial team that work on the newspaper. Paul Woolfenden will be the managing director.