Magazine article Marketing

Maxwell Stands by European

Magazine article Marketing

Maxwell Stands by European

Article excerpt

Maxwell stands by European

Robert Maxwell has broken his silence on the European newspaper to insist it is exceeding sales guarantees to advertisers and will be in profit by next May.

Following last week's claim that the paper sold 340,000 during July, Maxwell says a [pounds]5m multi-media pan-European ad campaign with new creative executions will break on September 6.

He intends to print the European in the US before the end of the month and is currently working on a strategy to boost distribution through educational establishments across Europe.

The European is now selling 187,000 in the UK and 153,000 on the Continent. The bulk of that - 70,000 - is sold in France and Germany, he claims.

"Sales have bottomed out and have been increasing for six weeks from a low of 300,000," says Maxwell. "We are in danger of making a profit in the year of launch."

Maxwell says this would be unprecedented and does not represent "phony accounting". …

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