New Chinese-language daily looking to challenge rival's market dominance
Sing Tao News Corp plans to launch a free daily newspaper within the next two months, heating up Hong Kong's already fiercely competitive print media market.
Sing Tao's entrant will be the city's third free Chinese-language newspaper, joining the highly successful Metro and a second being prepared for launch in the fourth quarter by Shih Wing-ching, chairman of the Centaline Group property agency. Mr Shih is scheduled to brief the media on his new publication's title and progress today.
'Sing Tao is finalising its plans for the free daily and will soon give a presentation to advertising agencies on its positioning as well as rate card,' an industry source said.
Sing Tao's new publication appears modelled on more than just Metro's advertising-only revenue model. Like Metro, which uses agency copy and is printed by Apple Daily's press, Sing Tao's paper will source content externally from its sister Sing Tao Daily and will be printed by Wen Wei Po. A maximum print run of 100,000 copies is planned.
In addition to Sing Tao Daily, Sing Tao also publishes The Standard newspaper and Chinese weeklies Eastweek and East Touch.