Economist Group
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| Type | Private limited company |
|---|---|
| Founded | 1843 (London) |
| Founder(s) | James Wilson |
| Headquarters | London, United Kingdom |
| Area served | Worldwide |
| Key people | Rupert Pennant-Rea (Chairman) Andrew Rashbass (Chief Executive)[1] |
| Products | Magazines, newspapers |
| Services | Conferences, market intelligence |
| Revenue | £361.8 million (2012)[2] |
| Operating income | £67.3 million (2012)[2] |
| Net income | £47.23 million (2012)[2] |
| Total assets | £66.16 million (at 31 March 2012)[2] |
| Total equity | (£4.57 million) (at 31 March 2012)[2] |
| Owner(s) | Pearson plc (through The Financial Times Limited) (50%) Other shareholders including the Cadbury, Rothschild, Schroder and Agnelli families (50%) |
| Employees | 1,414 (2012 average)[2] |
| Divisions | Economist Intelligence Unit |
| Website | www.economistgroup.com |
The Economist Newspaper Limited, trading as The Economist Group, is a multinational media company headquartered in London, United Kingdom which specialises in international business and world affairs information. Its principal activities are magazines, newspapers, conferences and market intelligence.
Contents |
History [edit]
The origins of The Economist Group date back to the foundation of The Economist: A Political, Commercial, Agricultural, & Free-Trade Journal by James Wilson in 1843.[3]
In 1946 the Economist Intelligence Unit was founded to provide business intelligence to both The Economist magazine and external clients.[3] In the same year the Economist bookshop was established as a 50:50 joint venture with the London School of Economics.[3]
Economist Conferences was established as a division of Economist Intelligence Unit in 1956 to offer government roundtables.[3]
In 1995 The Economist Group acquired the Journal of Commerce, a US-based provider of information for the shipping and transportation industries.[3] In the same year the Group launched European Voice, the first pan-European Union weekly newspaper.[3]
In July 2004, The Economist Group launched an upmarket lifestyle magazine called Intelligent Life, an annual publication. This magazine was redesigned as a quarterly in September 2007, and became a bi-monthly publication in August 2011.
Launched in 2010, the Ideas People Channel is a vertical online advertising network of around 50 sites defined by the mindset of the audience. The sites recruited for the network were identified by the readers of The Economist as their favourite online destinations for topics on business, globalisation, innovation and culture. The channel competes in the lower-cost, high-volume network advertising market, a category not previously served by The Economist online.[4] Also recently launched is Economist Education, providing e-learning courses.
In March 2012 The Economist Group acquired the London-based marketing communications agency TVC Group for an undisclosed sum.[5]
In April 2012 the Economist Intelligence Unit expanded in Asia with the acquisition of Clearstate, a market intelligence firm specialising in customised strategic advisory and primary research solutions in the healthcare and life sciences domains.[3]
Operations [edit]
The Economist Group is headquartered in London, United Kingdom and has offices worldwide, including in Brussels, Frankfurt, Geneva, Paris, Dubai, Johannesburg, New York, Washington, DC, Hong Kong, mainland China, Singapore, Tokyo and India.
The Economist Group's principal activities are magazines, newspapers, conferences and market intelligence. Publications and services delivered under The Economist brand include The Economist magazine, The Economist online, Economist Intelligence Unit, Economist Conferences, Economist Corporate Network, The World In series and a bi-monthly lifestyle magazine, Intelligent Life. The Group’s other brands include CQ Roll Call and European Voice (aimed at decision-makers on Capitol Hill and Brussels respectively), EuroFinance, a cash and treasury management event business, and a digital media agency, TVC.
Corporate affairs [edit]
Governance [edit]
The current members of the board of directors of The Economist Group are: Rupert Pennant-Rea (Chairman), Andrew Rashbass, Sir David Bell, John Elkann, Rona Fairhead, Philip Mengel, John Micklethwait, Sir Simon Robertson, Lynn Forester de Rothschild, Chris Stibbs and Luke Swanson.[6] The current trustees of the Group are: Baroness Bottomley of Nettlestone, Lord O'Donnell, Tim Clark and Bryan Sanderson.[7]
Ownership [edit]
The Economist Group is an associate and not a subsidiary of Pearson PLC. The Financial Times Limited, which is a Pearson subsidiary, owns 50% of the share capital of The Economist Group but does not have a controlling interest. The bulk of the remaining shares are held by individual shareholders including the Cadbury, Rothschild, Schroder, Agnelli and other family interests as well as a number of staff and former staff shareholders. The Economist Group operates as a separate and independent business.
Financial data [edit]
| 2007 | 2008 | 2009 | 2010 | 2011 | |
|---|---|---|---|---|---|
| Group turnover | 248m | 266m | 313m | 320m | 347m |
| Group operating profit | 36m | 44m | 56m | 58m | 63m |
References [edit]
- ^ "Andrew Rashbass: 'The biggest reason we're successful is that we are lucky'". The Guardian. 27 November 2011. Retrieved 26 October 2012.
- ^ a b c d e f g "Annual report 2012". The Economist Group. Retrieved 26 October 2012.
- ^ a b c d e f g "Our history". The Economist Group. Retrieved 15 December 2012.
- ^ Moses, Lucia "Economist Launches Online Ad Net", Adweek, 27 October 2010. Retrieved 12 July 2010.
- ^ "The Economist Group acquires TVC Group in move to create content". PR Week. 14 March 2012. Retrieved 15 December 2012.
- ^ "Directors". The Economist Group. Retrieved 15 December 2012.
- ^ "Trustees". The Economist Group. Retrieved 15 April 2013.
External links [edit]
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