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Strategic newspaper management : Case study of maeil business newspaper

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Frame of Image ol of Public Policy and Management, Korea Development Institute (KDI), February 2000. 1
Introduction
The Korean newspaper industry experienced a major difficulty with the onset of the financial crisis that hit the Korean economy in November 1997. In 1998, revenue of the top 40 newspapers fell by 30 percent, debt/equity ratio reached more than 600 percent, and the industry as a whole recorded a loss of 3.6 billion won. Many newspapers went through a painful restructuring, including personnel cuts, reduction of pages issued, and closing down of money losing operations. Despite the performance crisis of the industry, Maeil Business Newspaper recorded a solid performance and emerged as one of the leading business newspapers in Korea. Since transforming itself into a morning paper in 1993, circulation increased by five-fold, and the company recorded a profit of 1.4 billion won in 1998. According to a Gallup survey conducted in March 1999, Maeil Business Newspaper was ranked 6th in terms of overall market share, but first in customer satisfaction among the major newspapers in Korea. Among business newspapers, Maeil Business Newspaper’s brand awareness was No.1, being far ahead of its competitors. More than 65 percent of the respondents expressed their intention to subscribe to Maeil Business Newspaper in the future. What are the key success factors of Maeil Business Newspaper? This paper addresses this issue by examining the growth history and management principles of Maeil Busines


Full Text
Title Strategic newspaper management
Similar Titles
Sub Title

Case study of maeil business newspaper

Material Type Reports
Author(English)

Lee, Seung-Joo

Publisher

[Seoul]:KDI school of Public Policy and Management

Date 2000-02
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General

User Note

This case was prepared by Professor Seung-Joo Lee and Research Associate Eun-Hyung Lee as a basis for class discussion rather than to illustrate either effective or ineffective handling of a business situation.