Another Hong Kong daily dies

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HONG KONG -- The Hong Kong daily news paper Express News is the latest casualty in the ongoing Asian crisis. "The future is unclear. Our advertising revenues were undermined," said a front page announcement on March 15. "Under the circumstances, the newspaper decided to stop publication after today." Daily circulation hovered around 50,000.

More than 200 staff have been laid off as a result of the closure, which did not come as a surprise to the industry. The daily's owner, South China Strategic, the media arm of the South China group, laid off 70 staff to lower costs in early January, and later that month, the daily's sister publication - Sur prise Weekly - was closed at the cost of another 100 jobs.

Other Hong Kong newspapers have been hit by the crisis as well. In early February, Apple Daily announced it would trim its 900-strong staff by 100 positions through the end of March, also due to a reduction in advertising.

Copyright March 1998, Crain Communications Inc.

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