Jimmy Lai eyes Taiwan's China Times

While neither Next Media nor China Times representatives would comment, it is thought that Lai’s bid may run into a legal hurdle. The China Times Group includes terrestrial channel CTV and cable channel CTi, and Taiwan has strict rules on foreign ownership of broadcasting properties.

Another suitor in the fray is Fubon Bank, which has reportedly been in talks with China Times chairman Albert Yu for several months.

Sources say that Fubon Bank has loaned money to China Times Group in recent years, and already has a stake in the media conglomerate.

The China Times, along with rival the United Daily News, once dominated Taiwan’s print media. However, the title has fallen on hard times in recent years, and saw its advertising drop to NT$1.7 billion last year, a third of what it was during its glory days.

Despite frequent staff cuts over the years, China Times was forced to reduce pages and lay off half of its staff last summer.
Taiwan editions of Lai’s Next Magazine and Apple Daily have hastened China Times’ downfall. Apple Daily has an ABC-audited circulation of 526,000 in Taiwan.