27 January 2013

Nigeria: Newswatch Magazine Resurfaces

Photo: Leadership
Jimoh Ibrahim, Chairman of the Board of Directors of Newswatch magazine.

Lagos — Newswatch, Nigeria's premier news magazine which was taken off the newsstands about five months ago has re-appeared with a preview edition.

In a news release issued signed by the magazine's editor, Demola Abimboye, the 120-page edition of the magazine rolled off the press in London last weekend and was shipped into the country on Tuesday January 22, 2013.

"Neatly printed on 80gm part-mechanical newsprint with glossy cover, the package is a radical departure from the old issues of the 28 year-old magazine. With beautifully designed logo, inner pages, generous use of photographs and colour, the new magazine is a delight to behold. It compares favourably with magazines in advanced economies," a part of the news release read.

The preview edition is coming days after its sister publication, Newswatch Saturday, the newspaper version, was published and has also hit the newsstands.

Newswatch preview edition has as its cover story; Tough Year Ahead: What Budget 2013 portends for you, while it has other sections ranging from Nation and Politics to Across the States, Grassroots, Metro, Defence and Security, Life and Style and Ivory Tower. It also has a 10-page pull-out tagged CEO's Journal and Report from the Corporate Theatre, among others.

According to the press statement, Barrister Jimoh Ibrahim, the publisher said since the past 16 months when he acquired substantial shares that took away the control and management of the outfit from the former owners, has had to confront the brutal fact that what he bought was not profitable at all, otherwise it would not have been sold.

Meanwhile, two former directors of the newsmagazine, Nuhu Wada Aruwa and Prof. Jibril Aminu have gone to court to challenge the sale and to stop the publication of Saturday Newswatch, Sunday Newswatch and the proposed Daily Newswatch.

The notification of the law suit was made known to journalists through a statement issued and signed by a former Managing Director of the magazine, Ray Ekpu in Lagos.

"This is just to intimate you about current court actions regarding the sale of 51 percent of Newswatch Communications Limited to Mr Jimoh Ibrahim and the Global Media Mirror Limited. Two of our former directors, Mr Nuhu Wara Aruwa and Professor Jibril Aminu, have gone to challenge the sale and to stop the publication of Saturday Newswatch, Sunday Newswatch and the proposed Daily Newswatch," the statement read.

The statement also revealed that the hearing in the suit has been filed before Justice Buba of the Federal High Court sitting in Ikoyi, Lagos with its sitting fixed for Monday January 28, 2013.

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