The Chinese Nationalist Party (KMT) yesterday denied media reports claiming that the buyer of its three media companies was having second thoughts about the deal, saying the contract had already been signed.
The KMT sold the China Television Co (CTV), the Broadcasting Corporation of China (BCC) and the Central Motion Pictures Corp (CMPC), the three media outlets owned by the party, to the China Times Group last December for NT$9.3 billion (US$280.68 million), which included NT$5.3 billion in debt held by the three companies.
But recent media reports have speculated that the deal had not been finalized, and that the China Times Group was delaying payment because of its reluctance to buy BCC and CMPC.
Chinese-language newspapers reported that although the China Times Group agreed to buy the three media companies as a package, it was reluctant to take over the capital assets of BCC and CMPC, and had been in talks with the KMT in an effort to renegotiate the contract to return the capital assets of the two firms to the KMT.
KMT Chairman Ma Ying-jeou (馬英九) yesterday denied the allegations, saying "there is no problem ... the contract has been signed."
KMT Deputy Secretary-General Chang Che-chen (張哲琛) yesterday acknowledged the buyer had issues with the capital assets, but said the party had agreed to assist the buyer in dealing with the problem.
According to Chang, the "problematic" assets included four entities owned by BCC that are involved in legal battles, and which can not be sold until the lawsuits are resolved.
"We are helping the company to deal with the problem, and it will be solved very soon," he said yesterday at KMT headquarters.
In response to allegations that the buyer has delayed payment, Chang said that the KMT had already received a NT$400 million (US$12.5 million) down payment on the deal, and would receive NT$2 billion more within the next six months.
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