The Chinese Nationalist Party (KMT) yesterday confirmed that the China Television Co (CTV, 中視), the Broadcasting Corporation of China (BCC) and the Central Motion Pictures Corp (CMPC, 中影) have been bought by the China Times Group.
KMT Deputy Secretary-General Chang Che-chen (
He said that the KMT sold its shares in the three companies to the China Times Group for NT$4 billion (US$121 million).
The China Times Group also took over NT$5.3 billion of debt held by the three companies.
Adding this amount in, the China Times Group paid a total of NT$9.3 billion to the KMT for the firms.
"The deal was completed on Dec. 24. It is also a sign that the KMT is supporting the government's policy that politics and the military should be withdrawn from local media," Chang said.
However, while Chang was making the announcement, a group of CMPC employees broke into the conference room to protest, saying that the KMT had failed to take care of them by paying their severance before selling the company to a new owner.
The minor protest interrupted Chang's press conference and he decided to move to another room to continue it.
Chang said the KMT had owned 33.94 percent of CTV's shares, 97 percent of BCC's and 50 percent of CMPC's. These shares now belong to the China Times Group, he said.
In the meantime, Chang said that the KMT was also planning to sell its shares in the Central Daily News and the China Daily News, two Chinese-language newspapers, but the China Times Group was not interested in purchasing them.
Meanwhile, Government Information Office (GIO) Minister Pasuya Yao (
"If the shareholder structure of CTV involves any foreign shareholders, the GIO will not authorize it to begin cable broadcasting," Yao said.
"We also think that the KMT should explain [the share structure] of its own accord to gain the public's trust," he added.
also see story:
Chunghwa worried over TV law
CARGO LOSS: About 50 containers at the stern of the ‘Ever Lunar’ cargo ship went overboard, prompting the temporary closure of the port and disrupting operations Evergreen Marine Corp, Taiwan’s largest container shipper, yesterday said that all crew members aboard the Ever Lunar (長月) were safe after dozens of containers fell overboard off the coast of Peru the previous day. The incident occurred at 9:40am on Friday as the Ever Lunar was anchored and waiting to enter the Port of Callao when it suddenly experienced severe rolling, Evergreen said in a statement. The rolling, which caused the containers to fall, might have been caused by factors including a tsunami triggered by an earthquake in Russia, poor winter sea conditions in South America or a sudden influx of waves,
The Ministry of Culture yesterday officially launched the “We TAIWAN” cultural program on Osaka’s Nakanoshima sandbank, with the program’s mascot receiving overwhelming popularity. The cultural program, which runs from Aug. 2 to 20, was designed to partner with and capitalize on the 2025 World Expo that is being held in Osaka, Japan, from April 13 to Oct. 13, the ministry said. On the first day of the cultural program, its mascot, a green creature named “a-We,” proved to be extremely popular, as its merch was immediately in high demand. Long lines formed yesterday for the opening
The Taipei Summer Festival is to begin tomorrow at Dadaocheng Wharf (大稻埕), featuring four themed firework shows and five live music performances throughout the month, the Taipei Department of Information and Tourism said today. The festival in the city’s Datong District (大同) is to run until Aug. 30, holding firework displays on Wednesdays and the final Saturday of the event. The first show is scheduled for tomorrow, followed by Aug. 13, 20 and 30. To celebrate the 30th anniversary of Disney Pixar's movie Toy Story, the festival has partnered with Walt Disney Co (Taiwan) to host a special themed area on
BE CAREFUL: The virus rarely causes severe illness or death, but newborns, older people and those with medical conditions are at risk of more severe illness As more than 7,000 cases of chikungunya fever have been reported in China’s Guangdong Province this year, including 2,892 new cases last week, the Centers for Disease Control (CDC) yesterday said it is monitoring the situation and considering raising the travel notice level, which might be announced today. The CDC issued a level 1 travel notice, or “watch,” for Guangdong Province on July 22, citing an outbreak in Foshan, a manufacturing hub in the south of the province, that was reported early last month. Between July 27 and Saturday, the province reported 2,892 new cases of chikungunya, reaching a total of 7,716
RSS