By Chris Wang and J. Michael Cole / Staff reporters
Fri, Nov 30, 2012 - Page 1
Hundreds of young Taiwanese from around the nation yesterday continued to put pressure on the government to act against media monopolization and reject the sale of the Next Media Group’s (壹傳媒集團) Taiwanese businesses to two consortiums with a six-hour protest outside the Joint Government Office Building, where officials from the Fair Trade Commission (FTC) and academics were holding a public hearing on the sale.
Next Media Group signed an agreement on Tuesday to sell its four Taiwanese businesses — the Chinese-language Apple Daily, Next Magazine, Sharp Daily and Next TV — for NT$17.5 billion (US$600 million) to two consortiums comprised of Chinatrust Charity Foundation (中信慈善基金會) chairman Jeffrey Koo Jr (辜仲諒), Formosa Plastics Group (台塑集團) chairman William Wong (王文淵), Want Want China Times Group (旺旺中時集團) chairman Tsai Eng-meng (蔡衍明), Lung Yen Life Service Corp (龍巖集團) chairman David Lee (李世聰) and Taiwan Fire & Marine Insurance Co (台灣產物保險) chairman Steve Lee (李泰宏).
The sale has raised fears of a media monopoly and undue influence from China on Taiwan’s media, in light of the investors’ major business operations across the Taiwan Strait. Critics of Tsai, Taiwan’s wealthiest person, who made his fortune in China, have accused him of interfering with editorial matters at his other media outlets.