19 April 2019

Shanghai print media giants merge, paper says

The two main press groups in Shanghai officially launched a combined group on Monday, in one of the most important mergers in Chinese media history, Global times reported Tuesday. The Shanghai Newspaper Group, the outcome of the merger between Shanghai Jiefang Daily and Wenhui-Xinmin United Press, is now China’s largest with estimated assets of 20.8 billion yuan (US$3.4 billion), it cited a statement as saying. The two groups occupy almost the entire print media market in Shanghai. Wenhui-Xinmin United Press Group owns 17 newspapers and journals, including the Xinmin Evening News, the first evening newspaper on the Chinese mainland. The Jiefang Daily Group owns 12 newspapers and journals.

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