Another traditional media has decided to down-size. New Media Group has decided to merge travel magazine Weekend Weekly and entertainment magazine New Monday with Oriental Sunday, according to HK01.
The move involved 100 people accounting for about half of the company’s headcount. Oriental Sunday is also cutting 40% of its editorial staff.
Under impact of the digital media and the internet, traditional print media continues to plummet, with the New Media Group being the latest print media to cut budget and jobs.
Chinese language newspaper Hong Kong Daily News, which is under Emperor Group stopped publication last July; Entertainment magazines Sudden Weekly and Face under Next Digital also stopped publishing in August last year and March this year respectively. (Read more on: http://www.marketing-interactive.com/100-employees-to-go-as-faces-print-edition-goes-under/)
Also under the same group, print magazines Next Magazine, Eat and Travel Weekly and ME! had merged.
Another Chinese language newspaper newspaper The Sun (Hong Kong) under Oriental Press Group shut down in April this year.