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Want Want President Tsai resigns from Cti TV

The China Post news staff
January 5, 2013, 12:06 am TWN

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TAIPEI, Taiwan -- Cti TV said yesterday that Tsai Shao-chung (蔡紹中), son of Want Want China Times Chairman Tsai Eng-meng (蔡衍明), resigned as its president because he wanted to let media professionals run the company, adding that Ma Yung-jui (馬詠睿), current Cti TV general manager, will take over as head of the firm.

Want Want's proposals to acquire Chinese Network Systems (CNS, 中嘉有線電視系統) and Next Media's (壹傳媒) Taiwan branches are currently being reviewed by the National Communications Commission (NCC).

The NCC said that Want Want must give up its ownership of the Cti TV in order to purchase CNS.

Commentators have seen Tsai's resignation as a move to pave the way for Want Want's acquisition of Next Media's Taiwan branches.

Cti TV said that in a bid to return company management to professionals, Want Want, its main shareholder, has entrusted its shares to Industrial Bank of Taiwan (台灣工業銀行) on Dec. 27, 2012, adding that NCC was informed by mail.

Furthermore, Cti TV said that the latest personnel rearrangement will not affect the rights of its employees. NCC spokesperson Yu Hsaio-cheng (虞孝成), however, said yesterday that the NCC has yet to receive the report from Want Want.

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