China’s Xinhua to merge three newspapers into new media group
As the article states, China’s 'Xinhua News Agency' will hive off three of its most influential newspapers and a publishing house into a new media group as Beijing tries to transform its propaganda assets into profitable publications. Obviously, the article also states how people are now turning to Internet even more than newspapers, therefore newspapers aren't getting enough revenue to sustain themselves in the market. To aid this, the article states that the two securities newspapers under Xinhua are the designated publications for information disclosure by listed firms, guaranteeing a steady revenue.
- Xinhuanet.com, the news agency’s online news arm, went public in Shanghai last year, raising 1.5 billion yuan (HK$1.67 billion).
As a result I think China are doing a very good job in trying to aid the situation of newspapers declining in the modern day. The guarantee of a steady revenue derived from this method of merging newspapers if true, is a very successful way of trying to bring back newspapers into the market.
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