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Next Media stock suspended amid report it will sell Taiwan media ops
HONG KONG |
HONG KONG Oct 16 (Reuters) - Shares of Next Media Ltd , controlled by Hong Kong media mogul Jimmy Lai, were suspended on Tuesday amid reports it will sell all its Taiwan newspaper, magazine and online video assets to a Taiwanese consortium for around $600 million.
Next Media's shares last closed on Monday at HK$1.12.
The buyer group includes banking group Chinatrust's former vice-chairman, Jeffrey Koo Jr, and petrochemicals firm Formosa Group's president, Wang Wen-Yun, Taiwan's China Times and United Daily News reported, citing sources close to the buyers. (Reporting By Twinnie Siu; Editing by Anne Marie Roantree)
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