Backed by a $2.5 million investment from the Massachusetts Institute of Technology, one of the nation's oldest magazines is redefining itself.
In May, Technology Review will appear on newsstands every other month with a new look and a focus on innovation. The target audience includes academics, investors, venture capitalists, the technical elite and government leaders, said editor-in-chief John Benditt.
David Herbick, art director for Civilization, led the redesign under publisher and chief executive officer Bruce Journey, who was hired nearly two years ago to save the publication. He previously served as New England sales manager for Fortune.
Advertisers in the inaugural issue include Acura, Phillips Petroleum, Hewlett-Packard, Texaco, Raytheon and DuPont, said Journey.
The first issue will charge $7,500 for a full-page, four-color ad, with the price rising in July to $12,000, said Journey. While previous issues never had more than 15 ad pages, the relaunch reserves 39 pages for advertising, said Journey. Circulation, currently at 92,000, is expected to reach 150,000 by the end of 1998.
"It's not just another computer book," said Benditt. "The audience will appeal to advertisers because of their significance to the economy."