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Bad News All Around... Dubai Still Has Lots of Money... No Takeoff Just Yet...

Media companies, like everyone else, were hit hard Monday by the collapse in congressional efforts to pass the $700 billion bailout plan.


 

DUBAI STILL HAS LOTS OF MONEY: With massive consolidation in the U.S. financial sector and oil prices still high, Doubledown Media is heading to where the money is. The publisher of Trader Monthly and Dealmaker started printing the former in Dubai this summer, and now it has revealed plans to launch the second title there, too. Randall Lane, president, said both magazines will be sent to a targeted group of readers — all of whom easily have an annual household income north of $600,000. “We’ve seen readers grow in the emerging markets,” said Lane. “It’s really become a global community.”

To publish the Middle Eastern editions, Doubledown has partnered with a Dubai-based start-up, International Media Ventures. Launch advertisers for Dealmaker include Omega, Bentley and Infiniti. The company also publishes both magazines in the U.K., although the financial sector there isn’t any better than its U.S. cousin’s. “Our readers are more likely to be transferred to London, Hong Kong or Dubai than, say, Toledo,” said Lane. “We are expanding globally. We’ve seen a lot of interest in what we do. We’re certainly not slowing down.” — A.W.

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