While Tang Shizhe was pouring money into advertising back home to boost the image of Titan Group, the Sman Group, half a world away, began acquiring newspapers in Eagle Country.
With the internet becoming widespread, the newspaper industry was now worse off by the day, and its advertising revenue kept falling. Almost every newspaper was operating at a loss, so their valuations were generally low.
Even Google's E had declared, "The newspaper industry is destined to die out!"
In this climate of widespread pessimism, many newspaper owners were using profits from their other businesses just to keep their papers afloat. So if someone was willing to take them off their hands, they were more than happy to sell!
The Sman Group had received RMB 520 million in dividends from Titan Environmental, which amounted to nearly 87 million dollars!
The West Coast, where the Sman Group would begin its acquisitions, was less prosperous than the East Coast. Newspapers of the same size there cost fully half as much as their East Coast counterparts!
These "cheap" newspapers were undoubtedly the best choice for the Sman Group, which was short on funds.
On the twelfth and thirteenth floors of an office building that served as the Sman Group's headquarters, dozens of newly recruited employees were beaming with excitement. They had just received their boss's latest assignment: head to the cities on the West Coast and acquire their newspapers!
Someone might wonder whether these people were crazy, being so happy about having to travel for work.
At this point, it was worth mentioning that ever since the Sman Group had invested in Titan Environmental and received an outsized return, it had stopped making any other investments!
Their daily work consisted of researching and analyzing industries and companies in Eagle Country, then compiling their findings