SUBSCRIBE: Free email newsletter

Marketing

Toggle

Article

Hong Kong Daily News shutters after 56 years

One of the oldest newspapers in Hong Kong, the Hong Kong Daily News, has ceased publication after 56 years, bringing an end to the “staggering” financial losses the company had been suffering for years.

The Emperor Group-owned local newspaper, known for its horse racing pages, published its last edition on Saturday, a day before the horse racing season ends. The 32-page issue had two double-page spreads in the local news pages, one half-page ad in the entertainment pages, and two square ads in the racing and property pages respectively.

Around 130 employees were affected by the closure.

On an official statement said a shift in reading habits and the rise of digital had contributed to its demise.

“Circulation of traditional newspapers have been plummeting ever since the advent of free newspapers,” the statement said.

“Coupled with the changing reading habits of newspaper readers, the situation has led Hong Kong Daily News into a long standing deficit despite repeated attempts to reform.”

The Chinese-language newspaper was founded in 1959 and purchased by the Emperor Group in 1992 with a significant presence in Hong Kong’s newspaper scene.

Peter Kuo, publisher of Hong Kong Daily News, admitted that running a newspaper was a difficult business.

Kuo described the financial losses the company had been suffering for years as “staggering” in the face of rising competition from free newspapers, as well as changing local tastes from print newspaper to online news media.

The elimination of print media in Hong Kong seems virtually unavoidable with big circulation drops even for many well-regarded newspapers.

The Hong Kong Daily News is the second newspaper to fold since the short-lived Sharp Daily business ceased in 2013.

Read More News

in China by

福特车载移动平台新增考拉FM音频内容

在2015巴塞罗那世界移动通信大会上,福特汽车展出其最新的智能电动自行车,并宣布福特SYNC车载移动平台AppLink新增考拉FM音频应用程序。 该平台将驾驶者的智能手机功能扩展至汽车之中,福特目前已将约13款应用程序搭载于六款福特车型。 考拉FM拥有过百万合..

Trending

Leave a Reply

You must be logged in to post a comment.