Media tycoon Jimmy Lai to sell Taiwan TV unit

Hong Kong media mogul Jimmy Lai is to sell his loss-making TV business in Taiwan to one of the island’s cable news networks, it was announced on Monday.

The Hong Kong-listed Next Media signed a memorandum of co-operation with Lien Tai-sheng, owner of Era Communications, for the sale of Next TV. They are scheduled to sign a final contract one month from now.

“We hope the contract will become effective from January,” a spokesman for Next TV told reporters, without specifying the price of the deal.

via Business feed http://www.scmp.com/business/companies/article/1051744/media-tycoon-jimmy-lai-sell-taiwan-tv-unit