IPO ‘People’s Daily’ no surprise – Jeremy Goldkorn

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Jeremy Goldkorn

The announcement the People’s Daily, the daily newspaper of the Communist Party, is going – at least partially – public did not come as a surprise to media watcher Jeremy Goldkorn from Beijing, he tells AFP.

“This has been brewing for some time,” said Jeremy Goldkorn, founder of Beijing-based media research firm Danwei.

“Why not get the money from the market, instead of the government, if they can,” he told AFP.

Up to 10 state-owned media websites, including those of the People’s Daily, state broadcaster China Central Television and the Xinhua news agency — are planning domestic stock listings, state media said last year.

“If they are going to have state-controlled media companies that are successful in holding people’s attention, then being run like commercial enterprises is going to be better,” Goldkorn added.

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