Tom in talks for Economic Observer acquisition

Tom Group is in talks to acquire a 49% share in the Beijing-based Economic Observer, a weekly business and economics paper modeled on the Financial Times of London. Tom could inject funds into the paper to speed up its growth and possibly begin twice-weekly publication. In accordance with China's laws prohibiting overseas investors from controlling media content, Tom would invest in the paper's business, advertising and circulation functions. Tom is also considering investing in the paper's parent company, Shandong Sanlian Group unit Shandong Yuanchuang.