Next Media’s sale of its Taiwanese print business has collapsed a day shy of the deadline, scuttling a deal that has drawn criticism and street protests amid fears of a pro-China bias in the island’s media.
Next Media said yesterday that the buyers “have walked away” and that the group had decided not to extend today’s deadline to complete the deal. “Next Media will continue our operations as normal in Taiwan,” it said.
A separate deal for a different consortium to buy Next Media’s television business, which is currently not profitable, is still under discussion, the group said.
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