Media Companies

Beijing Youth Daily Group

Publishes Beijing Youth Daily and other newspapers and magazines, including the evening Mirror, Middle School Times, Beijing Children's Weekly, the English-language Beijing Today, Beijing Sci-Tech Report, The First, BQ, and YWeekend. It also runs the Ynet and Qianlong online portals.

Its advertising arm, Beijing Media Corporation, listed in the Hong Kong stock exchange in December, 2004. However, a subsequent downturn in the real estate market took away some of the lucrative property ads that it had relied on. It reported a 99.7% drop in profits the first half of 2005, and then revealed that six employees were arrested for corruption.

Rather than using the company's IPO as an opportunity for growth and development, evidently some executives saw it as a quick way to get their hands on cash; two days after listing, they set up another private company to funnel the investment into.

Beijing Media Corp has Naspers and the government of Singapore as investors, and has an advertising partnership with Hubei Youth Daily.

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