With economic turmoil spreading from the United States to Asia, some local newspapers are busy revamping their online strategies to generate new streams of income. The Hong Kong Economic Journal and Hong Kong Economic Times, the two big Chinese-language business newspapers, have launched paid websites. The Economic Times recently beefed up its online and mobile services to draw new readers. Subscribers can now view entire pages of the newspaper, including advertising, using their internet browsers. Subscribers, who pay HK$350 a year, have unlimited access to the portal's content, including real-time market news and analysis, newspaper content and archives for the past three years. Meanwhile, the Economic Journal has attracted more than 8,000 registered subscribers since its portal debuted in July. Of these, more than 7,000 joined the early-bird offer, paying HK$398 for a year's online access to the newspaper's content. Real-time news, discussion forums and special features remain free for registered members. The Journal closed its early-bird offering last week and resumed its normal annual rate of HK$598 for subscribers. In order to attract new subscribers, the portal added a new Mr Cho column, which provides unlimited access to a year's archive of essays by Cho Chi-ming, one of the most important stock columnists at the newspaper. Other subscribers need to pay HK$248 a year for access to Mr Cho's archive. 'We are going to launch several columnists' archives in the future to make it easier for our readers to navigate and find the information they need,' a source told Media Eye last week. The source said the Journal's portal still attracted new subscribers even though the subscription rate increased last week. 'I think our subscriber base is quite good, compared with other newspaper websites on a paying model, like SCMP.com, which has more than 10,000 subscribers. We believe content should be a premium and users should pay for that, rather than having only a free website that relies purely on advertising for revenue.' We understand the Journal's portal has added 30 to 40 paid subscribers a day since its launch. More than 90 per cent of the subscribers are from Hong Kong. The Journal believes its paid-access model can generate new income streams and newspaper sales and circulation revenue will not be cannibalised because the portal acts as a marketing tool for the print product. ATV replaces chief executive Asia Television, the city's smaller terrestrial television broadcaster, announced the resignation of Louis Page as chief executive effective immediately. He was replaced by Ho Ting-kwan, who was chief operating officer. Mr Page was the middleman who arranged for the Cha family and ABN Amro to jointly invest in the loss-making broadcaster in April last year. The Cha family's Mingly Group, together with ABN and Mr Page, became the company's largest shareholder, with a 47.58 per cent stake. Mr Page, who was a former group managing director of Television Broadcasts, was appointed chief executive of ATV in June last year. Mr Ho joined ATV as chief operating officer at the same time. 'We believe that Mr Page's resignation was mainly because his performance did not satisfy shareholders and bankers,' an industry watcher told Media Eye. 'With the global financial crisis tightening banks' funding of corporate activities, ATV's performance in the terrestrial broadcasting market lagged far behind its rival TVB. The company may need to restructure its strategy to convince bankers to support it further.'