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scmp group ltd (583) Snapshot

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scmp group ltd (583) Details

SCMP Group Limited, an investment holding company, prints, publishes, and distributes newspapers, magazines, and other related print and digital publications in Hong Kong. The company operates through Newspaper, Magazine, Property, and Others segments. The Newspaper segment publishes South China Morning Post, Sunday Morning Post, and other related print and digital publications. The Magazine segment publishes various magazines in Chinese and English language, including Harper’s BAZAAR, Cosmopolitan, ELLE, Esquire, ELLE MEN, and The PEAK; and related print and digital publications. The Property segment leases various commercial and industrial properties. The Others segment sells advertising billboards for outdoor advertising. SCMP Group Limited also provides marketing solutions; printing services; consulting and advisory services; and recruitment and education services through printed and online products, as well as acts as an advertising and employment agent. The company was founded in 1903 and is headquartered in New Territories, Hong Kong. SCMP Group Limited is a subsidiary of Kerry Media Limited.

1,069 Employees
Last Reported Date: 09/16/15
Founded in 1903

scmp group ltd (583) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $17.9M
Executive Director, Chairman of Strategy Comm...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

scmp group ltd (583) Key Developments

SCMP Group Ltd. Enters into Printing Agreement with International New York Times

SCMP Group Ltd. has entered into an agreement to print the International New York Times, or INYT, for mainland China and Hong Kong markets. The printing of INYT at the SCMP will commence in February 2016. The agreement reflects both media organisation's strong commitment to print journalism, loyal print readers and advertisers as they continue to push the envelope in the digital frontier. The deal with the INYT follows the SCMP's first contract printing agreement in 2013 to print am730, a Chinese-language free newspaper in Hong Kong.

Alibaba Reportedly To Buy The South China Morning Post Is Expected Before Christmas

Alibaba Group Holding Limited (NYSE:BABA) and SCMP Group Ltd. (OTCPK:SCPX.Y) are reportedly expected to sign their a merger agreement before Christmas, a source briefed on the negotiations told Quartz. Alibaba plans to purchase the newspaper division of the SCMP Group in order to boost its media division, a second source briefed on the negotiations told Quartz. Alibaba, the company, not Jack Ma, the founder, is the driving force behind the deal, this person said, and the purchase is being led by one of Alibaba’s investment divisions. The newspaper’s editorial side will remain independent, the source added. In addition to the century-old daily newspaper, The SCMP Group also owns the Hong Kong distribution rights to Cosmopolitan and other magazines, an advertising and marketing unit, and a major stake in the Bangkok Post. It is unclear whether Alibaba will purchase these assets as well.

SCMP In Merger Talks

SCMP Group Ltd. (OTCPK:SCPX.Y) confirmed it is in talks to sell stakes in the paper with a yet unidentified interested party, on November 25, 2015. "The company made an announcement pursuant to the inside information provisions and so affirmed the company has received a preliminary approach from an interested party regarding its interest in a possible purchase of the company's media business," Robin Hu, Chief Executive Officer of SCMP wrote in a memo sent to staff on November 25, 2015. The paper confirmed in an article posted on its website late on Wednesday that it had received a preliminary offer from an unnamed buyer. "The preliminary understanding is that the potential purchaser would like to have continuity in the media business's operations, and that minimal disruption of the media business is expected," SCMP cited Huas saying to staff. "The buyer is interested in the newspaper, magazines, and ad agency business such as outdoor media, custom publishing and events," Hu wrote. He said, "minimal disruption of the media business is expected" and that they will make the best effort to ensure "the interests of our employees will be taken care of". The proposal is still at a "very early stage and is subject to discussion, regulatory review and approval".

 

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