is registered in Bermuda, is being sold by media magnate Mr. Rupert Murdoch.

Mr. Murdoch announced he was selling his stake in the company just one month after buying Hong Kong-based satellite broadcaster STAR TV.

Murdoch's News Corporation is currently negotiating to sell its controlling interest to an undisclosed party.

South China Morning Post (Holdings) Ltd., which is represented in Bermuda by law firm Appleby, Spurling & Kempe, also publishes the Chinese-language Wah Kiu Yat Po in Hong Kong.

The English-language South China Morning Post, which Mr. Murdoch took control of in 1986, ranks among the most profitable newspapers in the world, according to analysts.

Mr. Murdoch's 51 percent stake in the Post is worth over $500 million based on the latest stock price of HK$5.35 (69 cents) and the total outstanding share issue of 1.5 billion.

Analysts estimated News Corporation will make a capital gain of $200 million if it sells SCMP at HK$5.10 (66 cents) per share.

Murdoch's move -- which echoes his 1980s sale of the New York Post newspaper, since repurchased, as part of a move into U.S. television -- comes on the heels of his acquisition of 64 percent of STAR TV from Hutchison Whampoa and Hong Kong tycoon Li Ka-shing for $525 million.