Zhejiang News Media plans to sell media assets to strip off its "burden" and pack it lightly on the road

As the first newspaper group in the country to list its media operating assets as a whole, Zhejiang News Media plans to sell news media assets to its controlling shareholders six years after its backdoor listing in 2011.

Original title: Zhejiang News Media "sells newspapers" to divest news media assets and seek transformation.

As the first newspaper group in the country to list its media operating assets as a whole, Zhejiang News Media plans to sell news media assets to its controlling shareholders six years after its backdoor listing in 2011. Assets.

On the evening of February 16, Zhebao Media released a progress announcement on the material asset reorganization, saying that the company has clearly planned to sell news media assets to the controlling shareholder Zhebao Media Holding Group Co., Ltd., and is currently accelerating the promotion of due diligence, audit evaluation, etc. of intermediaries, and the reorganization plan will be clarified as soon as possible.

In the cold winter of the newspaper industry, some institutions believe that Zhejiang News Media sells news media assets. Driven by the top-down policy of state-owned enterprise reform, the media industry, especially the print media, publishing, and radio and television industries, will usher in a new round of opportunities.

The successful acquisition of game platforms for cross-border development has made the market look at Zhejiang News Media's clear judgment and execution in terms of policy trends.

Faced with the industrial downturn of print media and the continued decline in advertising revenue from newspapers and magazines, Zhejiang News Media has clearly sold news media assets to its controlling shareholders this time, which may be seen as stripping off the "burden" of its capitalization operations and moving on with ease.

Zhejiang News Media's operating data for the third quarter of 2016 showed that print media circulation continued to decline. Total circulation for the current period fell by 7.66%, distribution revenue fell by 2.59%, and advertising revenue fell by 12.25%.

Editor: Nancy