Next Media to sell Taiwan TV assets to ERA's chairman Lian

TAIPEI (REUTERS) - Next Media Ltd plans to sell its Taiwan television unit to ERA Communications Co Ltd chairman Lien Tai-sheng for NT$1.4 billion (S$58 million), the group's latest effort to offload the loss-making business after a deal to sell its entire newspaper and TV empire fell through last month.

Next Media, owned by Hong Kong media mogul Jimmy Lai, said in a statement on Monday that the disposal would allow the company to rationalise and focus its resources on its profitable operations which should in turn enable the company to improve its overall business performance.