Next Digital Explained

Next Digital Limited
壹傳媒有限公司
Type:Public
Traded As:HKEX:
Fate:Liquidated
Location:Hong Kong
Key People:Jimmy Lai, Founder
Ip Yut Kin, Chairman,
Cheung Kim Hung, chief executive officer
Ting Ka Yu, Stephen, COO and CFO
Industry:Media
Revenue:HK$146 million (as of 30 Sep 2020)
Num Employees:2,095 (as of 30 Sep 2020)
J:jat1 cyun4 mui4 jau5 haan6 gung1 si1
T:壹傳媒有限公司
P:Yī Chuán Méi Yǒuxiàn Gōngsī

Next Digital Limited, previously known as Next Media Limited, was the largest listed media company in Hong Kong.

Founded by Jimmy Lai, it had 2,095 employees as of 30 Sep 2020. The media outlet had a user base of 5.0 million monthly unique visitors in Hong Kong, 12.3 million monthly unique visitors in Taiwan, 1.7 million in the US and 399,0002 in Canada up till 2019.[1] Apple Daily, the newspaper of the media group, was the most read newspaper in the city.[2] The company became defunct on 15 December 2021.

History

From 20 October 2015, the company has changed its English name to Next Digital Limited, from Next Media Limited.[3] Under a grim political climate, the news outlet's intrepid political activism infuriated the Beijing regime.[4] Some companies with ties to China had refrained from putting advertisements on any publication of the media group due to the heightened political pressure exerted on the business bodies in the city.[5] [6]

Next Media's irreverent probe into sensitive social topics is what believed to be the reason of a triad-style vandalism targeted at the press offices,[7] followed by the forced shut-down in 2021.[8] [9]

Raid by the police

See main article: Next Digital raid and arrests.

On 10 August 2020, Jimmy Lai, the founder of Next Digital, was arrested by the Hong Kong Police early morning that day for alleged collusion with foreign powers after a Beijing-led investigation. A post on Twitter from the media group's executive, Mark Simon, confirmed the arrest.[10] The Committee to Protect Journalists (CPJ) reported that "the arrest of media tycoon Jimmy Lai bears out the worst fears that Hong Kong's National Security Law would be used to suppress critical pro-democracy opinion and restrict press freedom". Steven Butler, CPJ's Asia program coordinator, commented, "Jimmy Lai should be released at once and any charges dropped."[11] The Hong Kong Police made arrest of seven people aged 39 to 72 who have been accused of violating the new security law. The arrestees included Jimmy Lai (Founder of Next Digital Limited), Cheung Kim Hung (CEO of Next Digital Limited), Chow Tat Kuen, Royston (executive director and CFO of Next Digital Limited).[12]

Political position

The news media has often offered explicit, proactive support for pro-democracy groups in Hong Kong. The paper is regarded to hold libertarian views on financial and economic issues.

Awards and recognition

A slew of news articles authored by journalists from Next Media had received recognition through news awards such as Human Rights Press Awards, Investigative Feature Writing, Excellence in Reporting on Women's Issues, Hong Kong News Awards, Hong Kong Institute of Professional Photographers Awards, Excellence in Video Reporting, Spot News Photography Prizes, Chinese-Language Cartoon / Illustration Merit, Chinese-Language News Merits, etc.[13] On the day of shutdown, queues of citizens snapped up the total 1 million copies of Apple Daily's last print,[14] marking a sensational end to the paper's decades of journalism and a symbol of Hong Kong's media pluralism.[15] [16]

The Hong Konger: Jimmy Lai's Extraordinary Struggle for Freedom film

Next Digital was featured in the film, The Hong Konger: Jimmy Lai's Extraordinary Struggle for Freedom. A documentary film produced by American think tank Acton Institute which received universally positive reviews from critics.[17] [18] [19]

Hong Kong publications

Monday Book – A set of four magazines sold together for HK$12 on Monday mornings that are more thematically male and commercially focused.

Friday Book – A set of three magazines sold together for HK$12 on Friday mornings that are more thematically female and leisure-focused. At the end of 2008, Next Media relinquished its holding in these three magazines, whose editorial management since early 2009 has been tied to TVB Weekly (the official magazine of Television Broadcasts Limited and owned by a joint venture between Malaysian media conglomerate company Astro All Asia Networks plc (Astro) and Albert Yeung's Emperor Group).

Hong Kong publications

The Atnext.com network is the No. 1 online Chinese new, information and current events portal from Hong Kong and reaches more than 2 million users per month, audited by Neilsen//Netratings.[21]

Vertical/community portalsIn addition to original exclusive content and social networking tools, these sites aggregate content from all other sites.

Taiwan publications

Corporate structure

The top management committee of the company is the Board. The Board is responsible for overseeing the successful of Next Media and devising the company's future strategy. The Board delegates the running of Next Media's day-to-day operations to carefully chosen executive directors and senior management. The Board looks to the management to ensure it is apprised of all significant developments that may affect the company and its operations.

There are four committees established by the Board, granted for different kinds of duties.

Senior leadership

Note: Senior leadership only reflects the structure since the Group's listing in 1999; previously, it was a private company with no formal structure

List of chairmen

  1. Jimmy Lai Chee-ying (1999–2014); executive chairman
  2. Cassian Cheung Ka-sing (interim Chairman 2014–2016); executive chairman
  3. Ip Yut-kin (2016–2018); non-executive chairman
  4. Jimmy Lai Chee-ying (2018–2020); second term; non-executive between 2018 and 2020; executive for part of 2020[22]
  5. Ip Yut-kin (2020–2021)

List of chief executives

Note: The position of Chief Executive was not used during the years 2002–2006, as the then-Executive Chairman Jimmy Lai took on CEO responsibilities from his post

  1. Lim Tai-thong (2000)
  2. Pieter Lodewijk Schats (2001)
  3. Stephen Ting Ka-yu (2007)
  4. Jimmy Lai Chee-ying (2008)
  5. Chu Wah-hui (2008–2010)
  6. Chu Wah-hui and Cassian Cheung Ka-sing (2010–2011)
  7. Cassian Cheung Ka-sing (2011–2014; interim CEO 2014–2016)
  8. Cheung Kim-hung (2018–2021)

Subsidiaries

External links

Notes and References

  1. https://www.nextdigital.com.hk/investor/download/e_282_AR_11%20July%202019.pdf.ee7b08dbb1af163215afb8a8638a6682 Investor
  2. Web site: The most widely-read Magazine and Newspaper in Hong Kong. 24 November 2021. 24 November 2021. https://web.archive.org/web/20211124211737/https://adintime.hk/en/blog/the-most-widely-read-magazine-and-newspaper-in-hong-kong--n96. live.
  3. Web site: 26 October 2019 . CHANGE OF COMPANY NAME, CHANGE OF STOCK SHORT NAME, CHANGE OF COMPANY WEBSITE, FREE EXCHANGE OF SHARE CERTIFICATES AND ADOPTION OF NEW COMPANY LOGO . 1 November 2017 . Next Digital . 30 May 2024 . https://web.archive.org/web/20240530041548/http://www.hkexnews.hk/listedco/listconews/SEHK/2015/1026/LTN20151026524.pdf . live .
  4. News: Myers . Steven Lee . 5 September 2019 . In Hong Kong Protests, China Angrily Connects Dots Back to U.S. . The New York Times . 25 November 2021 . 6 September 2019 . https://web.archive.org/web/20190906014629/https://www.nytimes.com/2019/09/05/world/asia/china-hong-kong-protests.html . live .
  5. News: Forsythe . Michael . Gough . Neil . 11 June 2014 . Hong Kong Media Worries over China's Reach as Ads Disappear . The New York Times . 25 November 2021 . 25 November 2021 . https://web.archive.org/web/20211125190522/https://www.nytimes.com/2014/06/12/business/international/hong-kong-media-worries-over-chinas-reach-as-ads-disappear.html . live .
  6. News: 16 June 2014 . Hong Kong Newspaper Says HSBC, Standard Chartered Pulled Ads . The Wall Street Journal . 25 November 2021 . 20 August 2020 . https://web.archive.org/web/20200820111934/https://www.wsj.com/articles/apple-daily-says-hsbc-standard-chartered-pulled-ads-due-to-chinese-government-pressure-1402923219 . live .
  7. Web site: Garnaut . John . 3 June 2014 . A Media Mogul, Alone on the Island . 22 August 2021 . Foreign Policy . 22 August 2021 . https://web.archive.org/web/20210822140054/https://foreignpolicy.com/2014/06/03/a-media-mogul-alone-on-the-island/ . live .
  8. News: Ramzy . Austin . 5 September 2021 . In Hong Kong, Jimmy Lai's Media Company Moves to Close Down . The New York Times . 24 November 2021 . 24 November 2021 . https://web.archive.org/web/20211124214022/https://www.nytimes.com/2021/09/05/business/next-digital-jimmy-lai-hong-kong.html . live .
  9. News: 30 June 2021 . Jimmy Lai's Next Digital to Shut Down Amid Chinese Pressure . Bloomberg News . 24 November 2021 . 24 November 2021 . https://web.archive.org/web/20211124214020/https://www.bloomberg.com/news/articles/2021-06-30/jimmy-lai-s-next-digital-to-cease-operations-july-1-memo . live .
  10. https://twitter.com/HKMarkSimon/status/1292600033473228800 – Via Twitter – received on 10/08/2020 Tweet states: "Jimmy Lai is being arrested for collusion with foreign powers at this time."
  11. News: 10 August 2020 . Hong Kong police arrest Apple Daily founder Jimmy Lai under new National Security Law . Committee to Protect Journalists . 19 August 2020 . 10 August 2020 . https://web.archive.org/web/20200810061435/https://cpj.org/2020/08/hong-kong-police-arrest-apple-daily-founder-jimmy-lai-under-new-national-security-law/ . live .
  12. Web site: Net . Xinhua . 10 August 2020 . Li Zhiying was arrested on suspicion of violating the Hong Kong National Security Law . https://web.archive.org/web/20200810051631/http://www.xinhuanet.com/gangao/2020-08/10/c_1126348605.htm . 10 August 2020 . 10 August 2020 . Xinhua Net.
  13. Web site: Next Magazine (Hong Kong and Taiwan). 25 November 2021. 30 May 2024. https://web.archive.org/web/20240530041549/https://en.m.wikipedia.org/wiki/Next_Magazine_(Hong_Kong_and_Taiwan). live.
  14. News: Lights out: Hongkongers queue for hours to buy Apple Daily's final issue. South China Morning Post. 23 June 2021. 24 November 2021. 30 May 2024. https://web.archive.org/web/20240530041551/https://www.scmp.com/news/hong-kong/law-and-crime/article/3138488/ominous-sentiment-last-moments-hong-kongs-apple-daily. live.
  15. News: Hong Kong Bids Emotional Farewell to Newspaper Shut by China . Bloomberg News . 23 June 2021 . 24 November 2021 . 24 November 2021 . https://web.archive.org/web/20211124211735/https://www.bloomberg.com/news/articles/2021-06-23/hong-kong-s-apple-daily-to-close-down-on-june-26 . live .
  16. News: China dismisses concern for Hong Kong freedom after tabloid closure. Reuters. 25 June 2021. 25 November 2021. 25 November 2021. https://web.archive.org/web/20211125190117/https://www.reuters.com/world/asia-pacific/emotions-run-high-hong-kong-residents-snap-up-final-edition-apple-daily-2021-06-24/. live.
  17. Web site: 2022-06-08 . The Hong Konger Documentary Is a Lesson on Freedom . 2023-05-30 . National Review . en-US . 30 May 2024 . https://web.archive.org/web/20240530041601/https://www.nationalreview.com/corner/the-hong-konger-documentary-is-a-lesson-on-freedom/ . live .
  18. Web site: 2022-12-02 . Watch The Hong Konger, about Jimmy Lai, Whose Trial Looms . 2023-05-30 . National Review . en-US . 26 May 2023 . https://web.archive.org/web/20230526155017/https://www.nationalreview.com/corner/watch-the-hong-konger-about-jimmy-lai-whose-trial-looms/ . live .
  19. News: Smith . Kyle . 2023-05-18 . 'The Hong Konger' Review: Jimmy Lai's Moral Heroism . en-US . Wall Street Journal . 2023-05-30 . 0099-9660 . 30 May 2023 . https://web.archive.org/web/20230530113245/https://www.wsj.com/articles/the-hong-konger-review-jimmy-lai-china-freedom-xi-jinping-apple-daily-d3e514f5 . live .
  20. News: May . Tiffany . Ramzy . Austin . 'We Will Persevere': A Newspaper Faces the Weight of Hong Kong's Crackdown . 19 August 2020 . The New York Times . 12 August 2020 . 19 August 2020 . https://web.archive.org/web/20200819015653/https://www.nytimes.com/2020/08/12/world/asia/hong-kong-apple-daily-jimmy-lai.html . live .
  21. Web site: Welcome to Pixel Media – Asia's leading interactive media sales network . 7 February 2008 . 10 February 2008 . https://web.archive.org/web/20080210171529/http://www.pixelmedia-asia.com/ . live .
  22. Web site: RESIGNATION OF DIRECTOR AND CHANGE OF CHAIRMAN OF THE BOARD. 29 December 2020. 30 May 2024. https://web.archive.org/web/20240530041547/https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1229/2020122900847.pdf. live.

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