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The article reports on the challenges facing magazine publishers that plan to enter the Eastern European market. While opportunities abound for magazine publishers such as Meredith Corp., entry into the market is not easy. For one thing, market entry is increasingly costly. Staffing the editorial and marketing operation is also difficult. Some of the magazine titles that are poised for growth include parenting and women's and men's lifestyles. Hearst Magazines and Time Inc. just some of the publishers who have established presence in the region.

The article provides information on newspaper publisher News Corp. chairman Rupert Murdoch's acquisitions around the world. He bought "News of the World," his first European acquisition in 1969. News Corp. controls about 40 percent of newspaper circulation with upmarket in Great Britain. News Corp.'s entry to North America came in 1973 when Murdoch acquired the "San Antonio Express" and "San Antonio News." El Canax Fox in South America was launched in August 1994. He paid $525 million for control of Star TV, a Hong Kong, China-based satellite system whose broadcasts reach 53 countries including China and India. News Corp. controls about 58 percent of the total newspaper circulation in Australia.

The article reports that the decision of executives of high technology publishing giant Ziff Communications Co. to auction off the company is expected to draw bidding from players in the United States, Europe and Japan, with the price likely to hit $2 billion to $3 billion. The auction is being handled by Steve Rattner. Potential buyers include McGraw-Hill, K-III Communications Corp., Reed Elsevier PLC, Times Mirror Co. and United Newspapers.

The article reports on the economic impact of the falling value of the U.S. dollar on U.S. publications operating in Europe with a dollar-based rate card in 1990. However, growth in advertising pages and circulation is easing the situation. A falling dollar affects publications, which traditionally set their rates each January, by increasing the cost of expenses incurred overseas while making the cost of advertising space cheaper for the local advertisers. Partly offsetting the problem is that circulation is paid for in local currency. It is too early to predict the impact on profits after only two months of the dollar falling more rapidly than it has in the past year.

Presents international news briefs on several developments in the advertising industry as of June 14, 1993. Appointment of Elinore Carmody as publisher of the as yet untitled teen magazine to be launched in October in the U.S.; Completion of Lang Communications' recapitalization with Sandler Media Partners; Partnership between QVC Network and British Sky Broadcasting to introduce QVC's home shopping service in Great Britain, Ireland and other areas of Europe.

Focuses on a survey on the international market share of European media companies. Findings of the survey conducted by Young & Rubicam; Discussion on the advertising revenue of European publication companies; Information on the international circulation of the magazine 'Reader's Digest'; Percentage of European media audiences.

Deals with the opposition of the European Publishers Council against a proposed European Community legislation that could cause massive losses of advertising revenues and jobs. Information on the campaign to be released by the group in newspapers and magazine; Details of the proposed legislation; Discussion on the advertising revenue; Actions taken by other publishing associations.

Reports on the negotiation between U.S. publisher Ralph Ingersoll and European publishing groups and British financial institutions about recapitalization in 1991. Members of the regional newspaper group managed by Ingersoll; Opposition of Ingersoll to a management buyout.

Relates that the European Publishers Council is calling on the European Parliament to support moves to set the value-added tax at 0% for magazines, newspapers, books, electronic educational and informational CD-ROMs and online services.