On Monday afternoon, rumours began circulating that Taiwanese billionaire Tsai Eng-meng, CEO of Want Want and Taiwan’s ninth richest person, signed a memorandum of understanding with China Times Group according to local reports, the deal is worth NT$20.4 billion (US$622 million).
Last week, the Taiwan press reported that the most likely suitor in the deal would be NextMedia’s Jimmy Lai, who reportedly was to announce a deal in the first week of this month.
The purchase, if consummated by Tsai, is believed to include the troubled flagship China Times newspaper and its business sibling, Commercial Times, along with terrestrial Chinese Television (CTV) and cable CTi, among other properties.
Unlike Lai, Tsai has no background in media, but a commonly expressed view in Taipei is that Tsai would be more likely to continue in the strait-laced China Times style.
In Taiwan, Lai’s publications Next and Apple Daily are known for reporting sensational scandals and titillating sexual photos.
NextMedia is one of the many reasons for China Times’ demise. Launched in 2003 and 2004, Lai’s Taiwan publications grew rapidly in circulation and ad pages, while the China Times watched its own slowly fade.
Further update
