, the internet arm of South China Morning Post, has bought a 5.45% stake in New York-based StockHouse Media Corporation. is investing through a mixture of cash and shares for its 5.45% stake in the $140 million company, valuing its stake at $7.63 million.

Integral to the deal are agreements that will provide content for StockHouse Media CorporationÆs newly launched Hong Kong website, In turn, has committed to buy advertising space from SCMP.

ôLast year, StockHouse formed a similar arrangement with publishing giant Hollinger International in Canada,ö says Jeff Berwick, Founder and President of StockHouse Media.

ôThat relationship significantly accelerated our growth in the Canadian market and also exposed Hollinger to StockHouseÆs extremely active online audience. We expect the partnership will accomplish similar objectives for both firms here in Hong Kong and beyond.ö

Commenting on the investment, Kuok Koon Seng, CEO of said, ôContent is critical and it confers a sustainable competitive advantage. We are confident that StockHouse can replicate in Asia its record of success in North America and Australia.ö

It is unclear where the revenues to support the venture will come from, although company sources claim that online advertising and e-commerce will sustain