Sun, Nov 18, 2012 - Page 1 News List

Next Media employees stage protest

‘LIAR’:Employees railed against the secrecy behind the deal to sell the group and demanded talks to ensure protection of employees’ rights and editorial freedom

By Loa Iok-sin  /  Staff reporter

Next Media spokesman Chang Hsiu-cher (張修哲) said that Next Media and the buyers were set to wrap up the deal and ink a contract yesterday, but the signing of the contract has been postponed.

The consortium, led by Koo, also includes Formosa Plastics Group (台塑集團) chairman William Wong (王文淵).

Formosa Plastics Group yesterday said issues such as whether the deal would go through and when the contract would be signed depend on Koo because the Financial Supervisory Commission has said that Koo should cut his proposed shareholding to less than 20 percent. A report by the Chinese-language United Daily News said that the trio had reached an initial agreement on Wednesday in which Koo and Wong would each hold 34 percent of the shares, while Tsai Eng-meng would hold the remaining 32 percent.

When asked whether there would be a fourth buyer in the deal, Formosa Plastics Group said “it really doesn’t know.”

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