Management Speaks on AsianWeek's Closure

(MoneyWatch)  Following is the letter sent to subscribers by the Fang brothers, owners of AsianWeek -- the largest English-language, Asian-American publication in the U.S. -- which ceased publishing its print version yesterday:
December 30, 2008

To Our Readers:
AsianWeek has played a long and significant role in helping develop
Asian Pacific America, from publishing the first 1980 U.S. Census data
on Asian and Pacific Islanders Americans, to co-publishing the most
comprehensive textbook analyzing 2000 Census data with UCLA.
AsianWeek has also changed itself to keep up with the rapidly evolving
Asian American community. This includes the re-launching of
AsianWeek.com as the largest Asian American news site, using the
newest delivery tools for electronic media. We also have worked to
bring together the increasingly diverse segments of the Asian Pacific
American community, organizing events like the Asian Heritage Street
Celebration and community-wide campaigns like the San Francisco Hep B
Free initiative. Our news focus has shifted in turn, to reflect the
growing focus of Asian Pacific Americans on their own career,
professional and business development. We are also producing more
special newspaper sections around issues as diverse as heritage,
health issues and car reviews.
The economy and the news business have experienced their own changes.
There are fewer major newspapers, fewer newspaper readers and fewer
newspaper advertisers than ever before. A faltering economy has
accelerated the decline. Meanwhile, Asian Pacific Americans have led
the way in the digital revolution migrating away from print media and
into receiving their news and information electronically.
To reflect these changing times, AsianWeek will cease regular
newspaper publication immediately. We will continue to publish on-line
and in special newspaper editions. Electronic versions of AsianWeek
articles will be available free via email. We will also be more active
than ever in the community, helping Asian Pacific America to grow,
evolve and reach its full potential. We appreciate the support the
community has given us over the last three decades and look forward to
giving back to the community for many decades to come.
(signed)
James Fang, President
Ted Fang. Editor and Publisher
The most interesting line in this letter, to me is "... Asian Pacific Americans have led the way in the digital revolution migrating away from print media and into receiving their news and information electronically."
Anyone working in Silicon Valley can attest to the role played by Asians and Asian-Americans in the digital revolution. Thus, it is also notable that AsianWeek intends to continue publishing an online version, though not yet clear how many journalists will be involved in that operation.

And, as is the case regarding all online media companies, we await learning what kind of business model will be employed by the Fangs to make this particular online publication profitable.

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Note: Thank you to Megan Kung for help with yesterday's and today's posts.