Publishing house Axel Springer Russia has been publishing Newsweek Russia under a US Newsweek Inc. license since June 2004.
The company's general director, Irina Silayeva, refused to disclose details of the contract with Mr. Parfyonov, but said that the magazine's concept would not change.
The market has reacted by saying the appointment will improve the magazine's position. "It is a correct move," says Rafael Akopov, general director of Prof-Media. "The weekly market is highly competitive and I believe Parfyonov's appointment is related to shareholders' desire to improve the edition's position."
A top manager of another publishing house who asked to remain anonymous agrees with Mr. Akopov. "In Parfyonov, Newsweek has acquired the most popular brand on the media market," he said. "People will be looking forward to a new edition of Newsweek as they used to anticipate Namedni."
Dirk Sauer, general director of Independent Media, agreed that Mr. Parfyonov was a professional, but pointed out that he would not be able to turn Newsweek into Parfyonov's magazine, because the weekly's policy and concept, just like any Western publication, is very strict.
According to varying estimates, Mr. Parfyonov may earn from $300,000 to $500,000 a year. This means that he will be the best-paid editor on the political weekly market.
