Fri, Feb 23, 2001 - Page 17 News List

PC Home Online denies report that it's for sale

STAFF WRITER

Internet portal PC Home Online (網路家庭) denied a local media report yesterday that the company is up for sale.

PC Home is owned by Jan Hung-tze (詹宏志), who on Wednesday closed the nation's first online Chinese-language newspaper Tomorrow Times (明日報).

"We have no plan to sell the company and are not engaging in any financial merger talks now," a company spokesperson, who declined to be named, told the Taipei Times yesterday.

According to a Chinese-language Web site report yesterday, a high-ranking PC Home executive said the PC Home Publishing Group, which owns several Internet ventures and print magazines, is considering selling off the money-losing venture following the shutdown of Tomorrow Times.

The report didn't identify the executive.

"Because both PC Home Online and Tomorrow Times are facing financial problems and we are financially handicapped ... we intend to look for help from institutional investors willing to take over PC Home Online in the future," the report quoted the executive as saying.

The report also said that PC Home planned to focus more on the magazine business and would re-enter the Internet market only at a much better time.

But the report "was totally inaccurate," the spokesperson said. "Although we did experience a business loss of more than NT$200 million last year, we managed to maintain our cash flow by increasing our capital from NT$160 million to NT$500 million last August," she said. "We haven't run out of money."

With the increased capital, the spokesperson said, "The company will not have financial problems over the next two years."

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