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