Sleeping with the enemy: Murdoch, 'People's Daily' enter joint venture
Article Abstract:
Rupert Murdoch's June 13, 1995, $5.4 million deal with the Chinese Communist Party's 'People's Daily' indicates his rehabilitation in China as well as heralding an important step into a new market. The agreement creates Beijing PDN Xinren Information Technology, a 50/50 joint venture developing information technology services. In Sept 1993 Murdoch angered China's leadership with rash statements about the power of satellite broadcasting, but has since cultivated friends and discarded awkward business agreements to curry favor.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Forbidden fruit
Article Abstract:
Jimmy Lai's efforts to launch the Chinese-language Apple Daily newspaper in Hong Kong are encountering interference from other newspapers upset with his pricing plans and, perhaps, his free-market, free-speech attitude. The city has never seen a price war among its newspapers, despite having more than 70 Chinese-language ones for 6 million residents. Most cost HK$5 per paper, though the English-language South China Morning Post recently went to $6. Lai plans to back his paper with up to half his HK$300 million fortune.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Hold the front page: Murdoch's sale of Hongkong daily awaits clearance
Article Abstract:
Rupert Murdoch's attempt to sell the South China Morning Post, Hongkong's largest English paper, to Robert Kuok have been put on hold as Kuok awaits news from Hongkong's Securities and Futures Commission. Kuok is attempting to purchase a 34.9% stake in the paper, which would fall below the 35% limit that classifies such deals as general offers under Hongkong law. If the deal was deemed a general offer Kuok would be forced to buy all of the paper's shares. The Hongkong English-language newspaper market is discussed.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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