Forbes magazine announces new European edition

Forbes magazine has launched a new European edition to be distributed across 11 countries and published in English.

Introducing the new bi-weekly edition today, the company said it was the "first step towards a bigger presence in print in Europe".

Forbes said the latest geographical extension would also include the carrying over of its online contributor network into Europe.

As part of this new online extension, Forbes Media is currently recruiting 25 to 30 Europe-based 'contributors' to use the new platform. The company is also planning on adding to its permanent journalistic staff on the ground following its growth in Europe, but could not specify numbers today.

Reflecting on its online operations, Forbes reported that out of its 19 to 20 million unique users a month, 1.5 to 2 million are in Europe.

"So it is very much worth our while to invest in more content, specifically European," president and CEO of Forbes Media Mike Perlis added.

Also speaking to the press this morning chairman and editor-in-chief of Forbes Media Steve Forbes described the internet as a "tornado" which had hit the media industry first.

The company, which currently reports a 50-50 split in revenues between print and its online operations, may consider using different charging models in the future "for certain kinds of content", he suggested, but relies firmly on advertising at the moment.

"Mostly the access has been open and what has worked for us might not work for others. But we will evolve."

The company also indicated its next plans for the iPad, which currently focuses on themed applications, but may include a replica magazine format in the future.

"The redesign of Forbes.com is very elegant and when you''re using your browser on iPad it's a very pleasant experience," Perlis said.

"We may go the replica route at some point, but in the meantime this themed approach has been working well for us."

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