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‘Fortune’ to introduce Turkish edition

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New York—Time Inc.’s Fortune announced it will launch a local edition in Turkey beginning this fall. The magazine will be published monthly, in Turkish, through a license agreement between Time Inc. and Vatan-Imako, a joint venture of Vatan Dergi Grubu, the third-largest magazine group in Turkey, and the Greek publishing group Imako Media, one of the largest companies in the Greek media market. It will be Fortune’s second foreign-language edition, following Fortune China. Venturing into Turkey gives Fortune access to a relatively untapped market for b-to-b advertisers. Like many business publications, Fortune has been struggling adwise. Through the first half of the year, ad revenue at Fortune fell 10.5% compared with the same time period in 2006, according to the Publishers Information Bureau. Ad pages declined 17.5%.
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