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Fubon exec refutes 'inaccurate' reports on Next Media purchase

The China Post news staff--The top executive of Fubon Financial Holding clarified yesterday that most of the news reports about his group's plan to purchase Next Media assets were inaccurate.

Chairman Daniel Ming-chung Tsai of Fubon Financial did not categorically denied media reports that his group is one of the potential buyers of Next Media, which runs the Apple Daily, the Sharp Daily, Next magazine and a TV network in Taiwan.

When leaving for Beijing, Tsai said at the airport that most of the media reports in Taiwan so far were not correct. He requested the media “avoid chasing the wind and shadows,” meaning pursuing untrue events.

But he declined to elaborate or make further comments.

Tsai was on his way to set up a Fubon scholarship program at the Peking University by offering grants totaling 850,000 Chinese yuan per year for students majoring in economics.

After Next Media announced plans to sell some of its assets, Fubon was named among the major potential buyers.

Other interested buyers include HTC Chairwoman Cher Wang, THW Group Chairman Winston Wen-yang Wong, Ruentex Group chief Samuel Yin, the Koo family of the Chinatrust Group and Hong Kong-based Li Ka-shing, said media reports in Taiwan and Hong Kong.

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