Asahi: Time closes Tokyo bureau
U.S. magazine publisher Time Inc. on Friday closed its Tokyo bureau, which opened shortly after World War II, due in part to slumping advertisement revenue. The company had employed a correspondent and an editorial staff member, but will use part-time reporters and experts instead. It will keep sales and advertising staff at its office in Tokyo's Roppongi Hills complex. Rival Newsweek closed its Tokyo bureau last spring. Business Week's editorial division in Tokyo was integrated into Bloomberg after Bloomberg acquired the magazine in December.