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regulations are in the section titled ""Cable Television Operations''), and proposals that could affect the development of
alternative video delivery systems that would compete in varying degrees with both cable television and television
broadcasting operations.
The Company is unable to determine what impact the various rule changes and other matters described in this section may
ultimately have on the Company's television broadcasting operations.
Magazine Publishing
Newsweek
Newsweek
is a weekly news magazine published both domestically and internationally by Newsweek, Inc., another
subsidiary of the Company. In gathering, reporting and writing news and other material for publication,
Newsweek
maintains news bureaus in 8 U.S. and 11 foreign cities.
The domestic edition of
Newsweek
includes more than 100 different geographic or demographic editions which carry
substantially identical news and feature material but enable advertisers to direct messages to specific market areas or
demographic groups. Domestically,
Newsweek
ranks second in circulation among the three leading weekly news
magazines (
Newsweek, Time
and
U.S. News & World Report
). For each of the last five years,
Newsweek
's average
weekly domestic circulation rate base has been 3,100,000 copies and its percentage of the total weekly domestic
circulation rate base of the three leading weekly news magazines has been 34.0%.
Newsweek
is sold on newsstands and through subscription mail order sales derived from a number of sources, principally
direct mail promotion. The basic one-year subscription price is $41.08. Most subscriptions are sold at a discount from the
basic price.
Newsweek
's newsstand cover price has been $3.95 per copy since 2001.
Newsweek
's published advertising rates are based on its average weekly circulation rate base and are competitive with
those of the other weekly news magazines. As is common in the magazine industry, advertising typically is sold at varying
discounts from
Newsweek
's published rates. Effective with the January 10, 2005 issue,
Newsweek
's published national
advertising rates for all categories of such advertising were increased by an average of approximately 5.0%. Beginning
with the issue dated January 7, 2006, such rates were increased again, also by an average of approximately 5.0%.
Internationally,
Newsweek
is published in a Europe, Middle East and Africa edition; an Asia edition covering Japan, Korea
and south Asia; and a Latin American edition; all of which are in the English language. Editorial copy solely of domestic
interest is eliminated in the international editions and is replaced by other international, business or national coverage
primarily of interest abroad. Newsweek estimates that the combined average weekly paid circulation for these English-
language international editions of
Newsweek
in 2005 was approximately 570,000 copies.
Since 1984 a section of
Newsweek
articles has been included in
The Bulletin,
an Australian weekly news magazine which
also circulates in New Zealand. A Japanese-language edition of
Newsweek, Newsweek Nihon Ban,
has been published
in Tokyo since 1986 pursuant to an arrangement with a Japanese publishing company which translates editorial copy, sells
advertising in Japan and prints and distributes the edition.
Newsweek Hankuk Pan,
a Korean-language edition of
Newsweek,
began publication in 1991 pursuant to a similar arrangement with a Korean publishing company.
Newsweek
en Espa ¿nol,
a Spanish-language edition of
Newsweek
which has been distributed in Latin America since 1996, is currently
being published under an agreement with a Mexico-based company which translates editorial copy, prints and distributes
the edition and jointly sells advertising with Newsweek.
Newsweek Bil Logha Al-Arabia,
an Arabic-language edition of
Newsweek,
began publication in 2000 under a similar arrangement with a Kuwaiti publishing company. Pursuant to
agreements with local subsidiaries of a German publishing company,
Newsweek Polska,
a Polish-language newsweekly,
began publication in 2001, and
Russky Newsweek,
a Russian-language newsweekly, began publication in 2004. In
addition to containing selected stories translated from
Newsweek
's various U.S. and foreign editions, each of these
magazines includes editorial content created by a staff of local reporters and editors. Under an agreement with a Hong
Kong-based publisher,
Newsweek Select,
a Chinese-language magazine based primarily on selected content translated
from
Newsweek
's U.S. and international editions, has been distributed in Hong Kong since 2003 and in mainland China
since 2004. Newsweek estimates that the combined average weekly paid circulation of
The Bulletin
insertions and the
various foreign-language international editions of
Newsweek
was approximately 697,000 copies in 2005.
The online version of
Newsweek,
which includes stories from
Newsweek
's print edition as well as other material, has been
a co-branded feature on the MSNBC.com website since 2000. This feature is being produced by
Washingtonpost.Newsweek Interactive, another subsidiary of the Company.
2005 FORM 10-K 7