US Metro group wins contract for HK daily

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.

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