US Metro group wins contract for HK daily

<p>HONG KONG: American publishing company Metro International has </p><p>outgunned local newspapers to snap up a three-year contract by Hong </p><p>Kong's railway corporation MTR to launch a free daily newspaper. </p><p><BR><BR> </p><p>Publicly-listed Metro currently publishes and distributes 21 editions of </p><p>the Metro newspaper in 15 countries and in 14 languages. </p><p><BR><BR> </p><p>The paper is expected to launch in the first half of 2002. Sources said </p><p>circulation would be in the region of 30,000 copies, with a focus on </p><p>news coverage. </p><p><BR><BR> </p><p>Media industry observers doubted that the paper, despite MTV's captive </p><p>audience, would have a significant impact in boosting overall print </p><p>advertising revenues. </p><p><BR><BR> </p><p>However, it is widely expected that the free paper could hit revenues of </p><p>rival dailies. </p><p><BR><BR> </p><p>Ming Pao executive director,Francis Tion, said: "There is no denying </p><p>that our ad revenue will be affected because advertisers will have </p><p>another choice. However, I do not believe the impact will be significant </p><p>because the new paper is a tabloid and is not suitable for all </p><p>advertisers." </p><p><BR><BR> </p><p>Zenith Media's buying director Henny To believes the new paper will </p><p>attract mainly non-working people such as housewives and students. "The </p><p>new paper will be a good choice for supermarkets, FMCG companies and </p><p>restaurants," he said. </p><p><BR><BR> </p>