SMG rechristens lifestyle subsidiary as Enjoyoung

Published: 01 Jun 2009 19:04:20 PST

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Jun. 2, 2009 (China Knowledge) - Shanghai Media Group (SMG), the second largest media conglomerate in China, on Tuesday relaunched a lifestyle and fashion media subsidiary as part of its plan to eventually list some operations, the Wall Street Journal reported.

The subsidiary will be known as Enjoyoung Media Co Ltd. The subsidiary controls the "Channel Young" Chinese television channel as well as a Chinese-language magazine with a focus on celebrities, along with some print publishing and retail activities. The Enjoyoung brand is reportedly somewhat similar to the American Martha Stewart lifestyle brand.

With the government's permission, the company has been seeking private investors and aims to list the subsidiary sometime in the next one to three years, said Li Ruigang, president of SMG, adding that national media regulators will continue to supervise the company's broadcasting activities.

SMG's monthly advertising revenues increased 2% year on year in April.

The company posted revenues of RMB 6 billion for 2008. Advertising revenues realized double-digit growth and reached RMB 4 billion last year.

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