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But according to Banyan, despite Dow Jones' missteps, FEER 'The decision to cease publication of the Review is a difficult one made after a careful study of the magazine's prospects in a challenging business climate,' said Todd Larsen, chief operating officer at Dow Jones Consumer Media Group.

David Plott, FEER's editor at the time, described the upheaval in 2004 as a loss of one of the 'greatest concentrations of knowledge and expertise about the region assembled anywhere'.

Time bought locally-born Asiaweek even though it appeared to be in direct competition for readers and advertising.

Not so long afterwards, Time closed Asiaweek rather than its ailing Time Asia.

It was corporate imperialism more than commercial sense which brought Dow Jones to buy control of the Review, which was a direct competitor for niche regional advertising.

It is clear that the closure of the Review, as of Asiaweek, represents an attack on diversity and further reduction in the variety of print media." Under its previous editor, Derek Davies, the Review had carved a name for itself for the excellence of its economic reporting, its refusal to be cowed and its wide-ranging book reviews.

Later on, when China was in the midst of the Chinese Civil War, he decamped to Hong Kong and founded the weekly publication, FEER, focusing on finance, commerce and industry.

After Halpern's retirement in 1958, Dick Wilson became chief editor and publisher.

In 1964, Wilson was succeeded as editor by Derek Davies, a Welsh journalist, who had served in the British Foreign Office.