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Home >> Business
UPDATED: 19:55, April 23, 2007
3 Chinese-language press groups sign merger pact in Malaysia
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Three Chinese-language newspaper groups signed a merger agreement on Monday.

Malaysia's Chinese-language media tycoon Tiong Hiew King witnessed Sin Chew Media Corp.Bhd and Hong Kong-based Ming Pao Enterprise Corp, which are under his banner, sign the pact with another Malaysian Chinese-language media group Nanyang Press Holdings Bhd.

The merger is a major step taken by Tiong to realize his vision of bringing his Chinese-language media groups "from local to world " and from "printing to multimedia".

"This merger, if approved by shareholders and regulatory authorities, will create a new milestone in the development of a global Chinese language media platform," Tiong said at the signing ceremony of the agreement.

The rapid development of information technology and globalization changes the way people receive information all over the world and Chinese-language media organizations in every place have to respond to the challenge brought by this change, he said.

"They must look beyond their traditional framework and geographic boundaries to come up with new plans to serve a much larger global community," he said.

Sin Chew Media was incorporated in Malaysia in May 1983. It currently groups Sin Chew Daily and Guang Ming Daily. It also publishes several magazines.

Sin Chew Daily is one of the leading Chinese-language newspapers in Malaysia with an average daily circulation of 347, 000 copies, while Guang Ming Daily is mainly distributed in northern Malaysia with an average circulation of 135,000 copies each day.

Ming Pao was incorporated in Bermuda. It was listed In the Hong Kong Exchange, China on March 22, 1991.

Currently, Ming Pao Group owns Ming Pao daily and Ming Pao Weekly, which are also circulated in some cities in Canada and the United States.

Nanyang was created on July 23, 1958 in the Federation of Malaya. The Nanyang Group currently publishes two main Chinese- language newspapers, namely Nanyang Siang Pau and China Press. It also publishes several magazines including Feminine, New Tide, Good Life.

Sin Chew Media's Managing Director C.C.Liew said that the merger is expected to benefit all sides involved as it would integrate their resources.

But he stressed that all newspapers and magazines involved in the merger will keep their own editorial policies as people need newspapers and magazines with different styles and features.

Paul Leong, executive chairman of Nanyang Press Holding, said that the merger is expected to help save Nanyang Siang Pau from operation losses as it can make local newspapers avoid unnecessary non-editorial competitions, such as advertisement price fightings.

Source: Xinhua

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