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Beijing Media profits down: real estate and tennis to blamePosted by Jeremy Goldkorn on Wednesday, April 19, 2006 at 5:25 PM
DowJones Newswire reports:
Even at the time of its listing on the Hong Kong stock exchange, Beijing Media warned that one of its primary risks was too much dependence on real estate advertising, so this news is not too shocking. As China's newspaper market continues to grow, defying trends in other countries, Beijing Media is likely to remain a leading player. Beijing Media's Hong Kong listing was a first for a Chinese media company. South African media group Naspers owns about 10% of the listed company, a fact which has gone unnoticed by many of the noisier European and American media groups trying to get their foot in the China door. Maybe it's just easier for Africans. 亚非拉团结起来? Links and Sources
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Comments on Beijing Media profits down: real estate and tennis to blame
Your site is very useful.
even if my comment comes a bit late, one should mention here the key point, which was a financial scandal a few months after the IPO, in Oct 2005, following apparently a complaint of Nasper -who had at lest one expat posted in Beijing- (I think, who complained seems not mentioned by the IHT in its article in reference below, but a quick search should confirm)(maybe there was also another Danwei post about this scandal later on ?)... Since then apparently the share in HK of Beijing Media has been declining... About this scandal see for ex. link