3cm moves into business publishing

Hong Kong - 3cm Media, publishers of Prestige magazine, will expand into the business sector from October, launching a business and lifestyle magazine called Power.

Power is being launched by Infinity Media Hong Kong Limited, a sister company to 3cm Media Limited.

Tony Spaeth, former executive editor of Time Asia and more recently the manger of Bloomberg's political coverage for Asia, has been hired to launch and edit the monthly magazine.

Spaeth said the magazine brings together fashion, travel, lifestyle and business - in a similar vein to the likes of Vanity Fair, Esquire or Variety.

He said the style of the magazine has never been launched in this market.

"We're targeting a great type of reader," Spaeth said. "They're international, very smart and are not obsessed with accumulating wealth, they want to know how to spend it."

The magazine will first launch in Hong Kong, but the company has plans to expand in China and eventually other Asian markets.