Sing Tao News Corp travels new road

Sing Tao News Corporation (1105), publisher of The Standard, is set to make an investment in the internet and mobile media sectors to tap fresh business opportunities.儲存倉 The firm said it would set up a joint venture with Lo Wing-hung, who has resigned as the group's chief executive. Sing Tao will own up to 30 percent of the new business with Lo taking the rest. ``Although the group's core strategy toward new media development is to focus on its free newspaper business, it is the group's intention to make investments to capture future potentials in internet and mobile media businesses,'' said Charles Ho Tsu-kwok, chairman of Sing Tao. The group owns Hong Kong's No1 circulation newspaper Headline Daily and the 75-year old Sing Tao Daily. Full terms of the venture are still under discussion and further announcements will be made when the details are ironed out. Lo will remain as Sing Tao's executive directo迷你倉價錢 and will use his rich experience in the media industry to contribute to the group's strategic development. Meanwhile, Siu Sai-wo, current chief editor and chief executive of Sing Tao Daily and Headline Daily, will succeed Lo as the group's chief executive from next month. Siu, 51, joined Sing Tao in 1999 and has worked in the media industry for 28 years. He has held senior positions at several leading Chinese newspaper firms in Hong Kong. Siu is a member of the Personal Data (Privacy) Advisory Committee and the sub-committee on protection and publicity of volunteer service of the Social Welfare Department. Siu's position will be filled by Lai Ting-yiu, currently chief executive and publisher of the magazine group. Winnie Lau Wing-yi, chief operating officer of the magazine group, will be promoted to chief executive, while East Week chief editor Kwan Wai- ling will be promoted to publisher. STAFF REPORTER 迷你倉