Hong Kong 1980: The Savage Era

Chapter 504 Chapter 506 [Competition]

The office of Fujia Newspaper Company.

After entering the 90s, Hong Kong's newspaper industry began to flourish, and with it came various competitions, with small players challenging the status of large companies.

As one of the three largest newspaper companies in Hong Kong, Fujia Newspapers was naturally the first to be hit. The company's newspaper profits continued to decline. Fortunately, Fujia Newspapers owned some properties, and the rental income just offset this decline and also allowed the company's overall profit to slightly increase.

But even if profits decline, if you want to maintain your current position, you have to continue expanding, otherwise it will be easy to slip.

据调查，目前香江注册出版的新闻纸共77种，其中综合性中文日报16家、中文晚报2家，英文日报2家、每周出版5天或6天的英文报纸5家、不刊登国际国内电讯的日报3家、影视娱乐报2家、马经报23家、盲人报1家。

In 90, the number of periodicals and magazines in Hong Kong exceeded 600. According to the publication cycle, they can be divided into semi-weekly, weekly, ten-day, monthly, bimonthly, quarterly, etc.

"Boss, this is the report you asked for." Wu Xiaohao handed over two documents.

Luo Qihong flipped through the pages and said, "The company's newspaper profits are declining. Do you have any good suggestions?"

Wu Xiaohao hesitated for a moment and responded, "In the past few months, Oriental Newspaper Group's East Weekly has been aggressively advertising in Oriental Daily, hoping to beat Next Weekly. We can completely copy this idea and launch our own new magazine."

"But this will require a huge amount of advertising fees. According to the magazine's cycle rules, it will take us at least two years to recoup our investment."

Making a comprehensive magazine popular is not a small matter for Fujia Newspaper Company. Although all the money goes into one's pocket, the most important thing is whether there is a prospect. They cannot keep losing money.

The newspaper industry in Hong Kong is now in full swing, but only a few are making money, while a lot are losing money. It is true that Fujia Newspaper Company is rich, but it did not come from nowhere, and a project needs to be evaluated.

"What is the possibility of making a profit?" Luo Qihong asked.

In fact, Fujia Newspaper Company has two comprehensive magazines, but they are no match for "Next Weekly" and "East Weekly". Even Cheng King-hon has been defeated.

Wu Xiaohao immediately replied, "It's hard to say. I can only guarantee that there will be no loss."

"Then do it. I will allocate 4000 million to you and you can draw people from the company." Luo Qihong said. He suddenly remembered that he was already a newspaper tycoon in Hong Kong and how could he tolerate others challenging his position.

"Yes, I will definitely not let you down, boss." Seeing that the decision had been made, Wu Xiaohao talked about the second matter, "Zheng Jinghan is trying to poach Lei Weicheng from Ming Pao Weekly with a huge sum of money, intending to dominate the gossip magazine. How do you think this matter should be handled?"

Luo Qihong was silent for a moment, then asked, "What was Lei Weicheng's reaction?"

"He's still hesitating, probably because he's watching our reaction. Zheng Jinghan has already raised his annual salary to 980 million. If we want to keep Lei Weicheng, we have to at least offer him this much." Wu Xiaohao said.

Lei Weichen is the founder of Ming Pao Weekly and the forefather of Hong Kong gossip magazines. His status is very high.

"Ming Pao Group is a big company, and it's just 1000 million. Give it to him. The group needs talents. Also, tell Lei Weichen that Ming Pao Weekly can be developed into a big company, and he will be in charge of the company's gossip magazine field in the future." Luo Qihong directly gave a double bait.

Cheng King-hon is a talent who specializes in the newspaper industry. It is difficult for him to have the courage to give up power. Moreover, the scale of the two companies is very different. Fujia Newspaper Company holds two major weapons - Ming Pao and Tiantian Daily, and firmly controls the daily newspaper industry.

"I believe Lei Weicheng will make the right choice." Wu Xiaohao believed that it would be difficult for Lei Weicheng to resist such conditions.

In fact, Ming Pao Weekly's annual advertising expenses exceed 1 million, and its profits reach tens of millions, most of which are due to Lei Weichen's efforts. His annual salary increase of 1000 million is well deserved.

"Huh? Sing Tao Group has turned losses into profits?!" Luo Qihong frowned when he saw the document. His intention to acquire Sing Tao Group was already known to everyone.

Wu Xiaohao responded, "Since the third quarter of this year, Sing Tao Group has been profitable. Although the profit is not large, it is good news." Luo Qihong did not remember the information about Hu Xian's turnaround in his previous life. Could it be the "butterfly effect"? Did Hu Xian suddenly realize and plan to focus on solving financial problems?

Of course, Luo Qihong still didn't quite believe that Hu Xian had the ability to pay off the 5 million yuan debt. He must have been worrying too much.

Unfortunately, he had no say over Sing Tao Group and could only wait for Hu Xian's business results.

"What does Sing Tao Group think of the current magazine war?" Luo Qihong asked. Since they couldn't directly influence the inside, they would have to work from the outside in.

"There is no plan. In October, Hu Xian was invited to the mainland. Now she is preparing for "Starlight Monthly" and I am afraid she does not have the extra energy to join the battle." Wu Xiaohao replied.

Luo Qihong thought about it carefully and felt that "Starlight Weekly" would not have any great prospects. After all, the mainland has not yet been fully opened up, and the control over the newspaper industry is very strict, which is completely different from Hong Kong.

"Forget it, forget about Sing Tao Group for now. We should focus on ourselves." Luo Qihong waved his hand. "When negotiating with Lei Weicheng, let him publish two more gossip magazines to expand the market share. Instead of letting others take over, it's better to do it ourselves. The meat must be rotten in the pot."

"Okay, I got it." Wu Xiaohao nodded.

The newspaper company was only a relatively small part of the Luo family's business, so Luo Qihong did not stay here for long and left after just one morning.

Hong Kong Government Auction House.

Chen Zhilong and Kang Wenyi walked into the auction venue with several senior staff, attracting everyone's attention.

Not seeing Luo Qihong, his colleagues felt relieved. At the auction, senior staff did not have time to ask for permission from their boss.

Luo Qihong often does surprising things. Who knows how high the auction price would be if he were at the venue? Winning the bid at a high price would be a troublesome matter.

Chen Zhilong and Kang Wenyi also have a great reputation in the industry. Except for the bosses of the top ten real estate companies in Hong Kong, they are not afraid of any other colleagues.

After all, the market value of Siu On Real Estate Company alone is close to HK$700 billion, not to mention other companies in the Siu On Group.

Some people believe that the market value of Siu On Properties is underestimated and its actual market value is already HK$930 billion.

Everyone greeted each other. No matter how fierce the bidding would be, everyone still had to give each other face.

This piece of land is considered the king of land, and can barely serve as a barometer of the real estate market in the future. As long as the premium is high enough, it will still have a significant impact on the real estate market, and it will only benefit all real estate developers and not harm them.

But it does not mean that everyone will bid maliciously, as this will offend people.

The auction officially began soon, everyone raised their hands enthusiastically and the competition was very fierce.

At the end, only six companies were left competing: Wharf Holdings, Cheung Kong Holdings, New World Development, Nan Fung Group, Sino Group and Siu On Group.

"A piece of land is worth 28 billion Hong Kong dollars, which is too expensive. Hotels abroad are only 40 or 50 billion. It is more cost-effective to buy a hotel." Cheng Yutong glanced at Wu Guangzheng who was desperately holding up the sign next to him, and said to himself.

The senior executives around him could only smile awkwardly when they heard this.

(End of this chapter)