Blood On Hong Kong's Newsstands

The Ma empire takes a hit as its Hong Kong English daily folds

Officials of the Eastern Express newspaper waited until most of the editorial staff left on June 30. Then, they rejiggered the front page to break the day's big news: The Hong Kong daily, founded in 1994 as an English-language rival to the South China Morning Post, was folding. Ma Ching-kwan, who had launched the Express with a lavish $13 million promotional blitz, was resigning as chairman of its $210 million parent, Oriental Press Group Ltd. Ma, 39, will take the post of executive director and will be replaced as chairman by his younger brother, Ma Ching-fat.

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