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Watching the Media - January 2008

SINGAPORE PRESS HOLDING BUYS SLEW OF HONG KONG-BASED LUXURY MAGAZINES

January 3rd 2008 01:08


SPH Magazines, a unit of Singapore Press Holdings has strengthened its Asian expansion by buying all the luxury magazines published by a Hong Kong firm, according to the Straits Times.
The company will pay Adkom, a media group established in 2000 with a focus on the upmarket lifestyle sector, about S$23.2 million for the titles.
These include Asia-Pacific Boating, AsiaSpa, Luxury Properties and other magazines targeted at affluent readers with an active lifestyle.
The magazines are published and circulated in major Asian cities, including Singapore, Hong Kong, China and Thailand.

The company said this acquisition, “'will immediately extend SPH Magazines' reach in the North Asia market and fortify its position in the Asia-Pacific region as a major magazine publisher,” and will be made through its wholly owned Hong Kong firm Blu Inc Media.


- From MediaBlab
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