The company has indeed announced this week the upcoming launch of its new financial spinoff, Prosper, which will be sent out free of charge to over 150 000 UK subscribers to The Week. Prosper magazine aims to provide a smart, intelligent and clear-cut personal investment guide to the world of finance and will be distributed alongside The Week (not as a stand-alone). Published in editorial association with MoneyWeek (formerly owned by Dennis until 2002), the launch issue will feature stories such as why the clever money is going into Japan, not China, how to pick a private bank and the best way to invest currently. MoneyWeek's editor, John Stepak, will also head up Prosper. The Spring/Summer issue will be available before the end of April and a Fall/Winter issue should ensue in the second half.
Kerin O’Connor, managing director of The Week, said: "We are delighted to diversify our editorial offering to The Week’s readers by launching Prosper. With so much financial information out there, sifting out the right insights and working out the best advice can be hard at the best of times. Prosper has been developed to provide smart, relevant and profitable editorial for our growing army of wealthy readers."
The Week gained 9.8% year on year in the latest ABC round-up, to reach an average issue circulation of 169 690 copies a week. MoneyWeek was up 10.4% year on year to 42 953 copies for the July to December 2009.