The American edition of OK! celebrates its first birthday in
America next month – and the man who has been running it is returning
to London reportedly to launch a free newspaper.
Christian Toksvig, the Danish born CEO of OK! in the US , said goodbye to his American staff this week.
He is returning to Britain to help develop a new freebie newspaper that
Richard Desmond aims to launch next Spring. Before joining Desmond’s
organisation Toksvig worked for Metro International, publisher of a
worldwide series of daily free newspapers.
In London Toksvig
said he will also be overseeing all the overseas editions of OK!,
including the US. There are no plans to replace him in New York. And it
is believed he will be spearheading Richard Desmond's bid to win the
franchise for a new free daily afternoon paper to be distributed at
London rail and underground stations.
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But day- to -day operation, according to the NY Post, will be in the hands of chief financial officer Vince Ohanyan .
And how is the American version of OK doing?
Toksvig
said “very well”. It has by no means exhausted the $100 million that
Desmond pledged to spend when it was launched. About a tenth of that
went on pre-publication publicity and a sales campaign .
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Newsstand
sales have several times cracked 500,000 – but not consistently.
Overall it is expected the magazine will claim a weekly paid
circulation of 550,000 for the first half on 2006.
Reducing the cover price to $1.99 appears to have helped.
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