Broadcasting Corporation of China (BCC) chairman Jaw Shaw-kong (趙少康) said yesterday he would terminate his contract with Hua Hsia Investment Holding Co (華夏投資公司) over the purchase of BCC, over what he called "relentless persecution" from the government.
"I just want to run a media business, that's all. But apparently I can't beat politics," he said. "Given this, there is no need to remain entangled in this matter anymore."
Jaw said his resignation as BCC chairman and president was effective immediately. Starting tomorrow, he said he would no longer host BCC's morning show Time with Jaw Shaw-Kong.
Jaw said he had appointed a senior financial officer at BCC to temporarily take over the company's operations.
Meanwhile, his lawyer will meet Hua Hsia representatives to settle disputes resulting from the termination of his contract.
If the disputes cannot be resolved within two weeks, Jaw said he would request that a court appoint a temporary manager.
The announcement came after the National Communication Commission (NCC) in June approved the sale of BCC to four subsidiaries believed to be affiliated with Jaw. In July, however, the Executive Yuan suspended the NCC ruling.
During this time, Jaw laid off approximately 200 BCC employees and assigned some of these positions to staff he brought from former company UFO Radio.
Jaw said the Cabinet had launched a "comprehensive" investigation into the deal after suspending the NCC ruling. He said officials from the Investigation Bureau, the Financial Supervisory Committee and the National Security Bureau had looked into various accounts he and his colleagues held and used for unlawful transactions.
At the order of the Cabinet, the Ministry of Economic Affairs refused to allow BCC to change its ownership registration. The Fair Trade Commission claims that BCC holds a monopoly in the national radio industry.
Jaw said the NCC had issued official notices to these organizations while the case was being reviewed. None of these organizations had expressed doubts or objections over the legality of the deal, he said.
Jaw said the NCC had set really "stringent" conditions when it approved the sale, which he reluctantly accepted.
"Little did we know our troubles were just beginning," he said.
The NCC ruling said BCC shares had to be publicly traded.
Jaw's wife, Liang Lei (梁蕾), was also required to reduce her shareholding to less than 10 percent.
The NCC also asked BCC to give back two radio frequencies used to broadcast anti-communist propaganda.
The Chinese Nationalist Party (KMT) sold BCC to China Times Group (
China Television Co (
The transaction was facilitated by Hua Hsia, an investment firm owned by the KMT. The deal, however, was cancelled because the China Times Group was unable to pay the sum in full.
Last year, Hua Hsia decided to sell BCC to Jaw.
Jaw, however, never said how much he paid for the company.
In response, the Ministry of Economic Affairs' Commercial Department said that it could not approve the deal because BCC failed to provide the documents needed to register board member changes.
Meanwhile, the KMT-owned Central Investment Co (
"We sympathize with Jaw, but we had nothing to do with the matter. BCC will not be returned to us because that would be illegal," company chairman Steve Wong (
Wong insisted that all the deals had been legal and that it was now down to Hua Hsia and Jungli to decide how to deal with the matter.
Additional reporting by Mo Yan-chih
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft