The English-language magazine, which is a holding of Asia City Publishing Group, will be reduced to an online presence following a period of fiscal turmoil.
According to Gretchen Worth, managing director and founding member of the Asia City Publishing Group, the majority of SH Magazine’s 25-member staff will be laid off, aside from the “one or two who will stay on to operate the scaled-down digital presence.” This presence will include content provision to local and regional clients, mobile products, EDMs and the SH portal containing dining, nightlife, travel, events and retail information, Worth added.
SH Magazine was acquired by Asia City Publishing Group in September 2005 and claims a circulation of 30,000 copies across Shanghai. It was launched in 2004 under the name 8 Days before being rebranded to SH by Asia City.
Worth adds that Asia City itself is looking for an acquisition company. While she said the group is not in discussion with any particular company at the moment it is open to talks.
“We’re always interested in any company looking to talk to us,” she said, adding that the lack of suitors is a result of the current economic climate. “It’s just not such a good time right now.”
Although Worth averred SH Magazine is the only Asia City title slated to shut down, she said that the publisher is “considering” layoffs at any of its offices across the region.
“There’s a big economic downturn and all the offices in all our companies are looking to cut costs,” she said. “We’re considering layoffs and will be considering it for the next year and in order to become a stronger company.”
Asia City, with a staff of 150 members, has publications and offices in Bangkok, Kuala Lumpur, Shanghai, Singapore and Hong Kong, which is home to its flagship title HK Magazine launched in 1991.
According to Gretchen Worth, managing director and founding member of the Asia City Publishing Group, the majority of SH Magazine’s 25-member staff will be laid off, aside from the “one or two who will stay on to operate the scaled-down digital presence.” This presence will include content provision to local and regional clients, mobile products, EDMs and the SH portal containing dining, nightlife, travel, events and retail information, Worth added.
SH Magazine was acquired by Asia City Publishing Group in September 2005 and claims a circulation of 30,000 copies across Shanghai. It was launched in 2004 under the name 8 Days before being rebranded to SH by Asia City.
Worth adds that Asia City itself is looking for an acquisition company. While she said the group is not in discussion with any particular company at the moment it is open to talks.
“We’re always interested in any company looking to talk to us,” she said, adding that the lack of suitors is a result of the current economic climate. “It’s just not such a good time right now.”
Although Worth averred SH Magazine is the only Asia City title slated to shut down, she said that the publisher is “considering” layoffs at any of its offices across the region.
“There’s a big economic downturn and all the offices in all our companies are looking to cut costs,” she said. “We’re considering layoffs and will be considering it for the next year and in order to become a stronger company.”
Asia City, with a staff of 150 members, has publications and offices in Bangkok, Kuala Lumpur, Shanghai, Singapore and Hong Kong, which is home to its flagship title HK Magazine launched in 1991.
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