Phoenix Publishing and Media Company is the largest publishing group in China. Its subsidiary, Phoenix Publishing and Media Co., Ltd., has been listed in the Shanghai Stock Exchange since 2011.
The group includes nine publishing houses and 66 chain book stores as well as printing facilities. It has published over 10,000 titles and has a staff of 11,000. Phoenix opened an office in the UK in summer 2012.
Founded in 2001, Phoenix Publishing & Media Group was initially known as Jiangsu Publishing Group, until it changed its name in 2004.
Key Company Developments in 2013
Ownership, Mergers & Acquisition, Internal Organization
In the first major international acquisition by a China-based publishing group, Phoenix agreed in May 2014 to buy the children’s publishing unit of International Ltd. In Lincolnwood Illinois, including a catalogue of over 1,000 titles. The existing management and staff is expected to continue running the operation. The acquisition came after an earlier attempt in 2008 and is estimated to be worth 163 million USD.
In 2011, Phoenix-Tangel New Media Co was launched to specialize in digital publications and in games. PP&M holds 51%, and revenues were reported at 80 million RMB in its first year of operations. (China Daily, 15 Nov2012, http://bit.ly/14wtRzh )
Phoenix established Hachette Phoenix Cultural Development, a joint venture with Hachette Livre, in 2009.
Yilin Press, an imprint of Phoenix, partnered with Compendium Publishing Ltd. in the UK.
Digital
Phoenix Group is accelerating its digital transformation by extending multilateral distribution database projects for its digital content, as well as integrating its entire digital value chain. Sales from these assets doubled in 2013 to 400 RMB.
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