DPP aims to keep financial groups from owning media
The China Post news staff
October 25, 2012, 12:10 am TWN
The China Post news staff--Lawmakers from the opposition Democratic Progressive Party (DPP) are looking to remove a legal loophole in an effort to prevent financial institutions from extending their influence to the media industry.
The move was prompted by a recent agreement involving Jeffrey Koo Jr., whose family controls Chinatrust Financial Holding Co., to buy Next Media.
The existing law only forbids corporate financial bodies from running media establishments, but does not ban owners of such institutions from investing in the media industry as private individuals, the DPP lawmakers said.