In Hong Kong, the pro-China Sing Tao News Group has been on the market for more than a year, and on Tuesday it was finally implemented by Guo Xiaoting, the daughter of Guo Yingcheng, the chairman of the domestic property company Jia Zhaoye Group, who bought 28% of the shares for HK$370 million and became the major shareholder; the current chairman Ho Chu Kwok’s stake dropped to 3.37%.
Guo Xiaoting is 27 years old this year, the second generation of the rich to take charge of the 83-year history of Sing Tao, whether there are changes in management is still unclear; but it is generally estimated that Sing Tao will maintain a pro-China Policy in the future editorial coverage.
Hong Kong 01, another pro-China media company, announced on Wednesday that it is laying off about 40 employees, mainly from the operations department and back office colleagues, accounting for about 5 percent of the overall staff. Hong Kong 01 said it would provide reasonable and appropriate severance packages to affected employees in accordance with labor laws.
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