Next Media to push through with Taiwan assets sale

Media tycoon Jimmy Lai Chee-ying is expected to close the NT$17.5 billion (HK$4.7 billion) deal to sell Next Media's print and TV holdings in Taiwan as planned this Saturday, following efforts by the buyers to comply with regulatory restrictions.

According to a Next Media source involved in the negotiations, the Formosa Plastics Group will take over as controlling shareholder of the buying consortium to appease concerns raised by Taiwan's Financial Supervisory Commission.

via Business feed http://www.scmp.com/business/companies/article/1082621/next-media-push-through-taiwan-assets-sale