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May 29, 2017

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Next Media considers selling Next Magazine, Apple Daily

The China Post news staff--Next Media (壹傳媒) announced yesterday at the Hong Kong stock exchange that the media company is conducting talks with an independent third party to sell Next Magazine, Apple Daily and Sharp Daily (爽報).

The announcement was also posted on the Apple Daily's website. Next TV (壹電視) was excluded from the possible deal.

Next Media CEO Chang Chia-sheng (張嘉聲) sent a letter to his employees, stating that the announcement was made in accordance with Hong Kong government regulations. According to Next Media, the statement was made for official Hong Kong records and does not mean that the company has already been sold. Next Media will talk to the independent third party over the next few weeks.

Chang emphasized that during the talks the company will operate normally, and its employees should go about business as usual.

The editorial department of Apple Daily stated that its employees know nothing more than what was written in the statement, and they have no idea who the independent third party is. Employees are concerned about the issue. Currently, there is no anticipated cause for personnel changes and the company will run as usual.

Next TV legal consultant and Public Affairs Director Chang Che-hsiu (張哲修) stated that since the statement does not mention Next TV, the possible transaction is not related to Next TV.

The statement said that Next Media has not yet made any legally binding agreement concerning the selling and that negotiations have just begun.

Next TV said that stockholders and the public should be prudent when trading its shares.

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