Next Media to sell Taiwan media operations: Paper
TAIPEI (Reuters) - Next Media Ltd, controlled by Hong Kong media mogul Jimmy Lai, will sell all its Taiwan newspaper, magazine and online video assets to a Taiwanese consortium for around US$600 million (S$733 million), media reports said on Tuesday.
The buyer group includes banking group Chinatrust's former vice-chairman, Jeffrey Koo Jr, and petrochemicals firm Formosa Group's president, Wang Wen-Yun, Taiwan's China Times and United Daily News reported, citing sources close to the buyers.
Next Media had said earlier this month that it was in talks to sell the business, which includes the Taiwan edition of the Apple Daily newspaper and local publications Next Magazine and free paper Sharp Daily.
Next Media also sold its Next TV operations in Taiwan earlier this month.