Wed, Oct 31, 2007 - Page 3 News List

DPP raises questions over BCC sale

By Ko Shu-ling  /  STAFF REPORTER

The Democratic Progressive Party (DPP) alleged yesterday that the Chinese Nationalist Party's (KMT) sale of three media outlets had caused losses of NT$28.4 billion (US$887 million).

DPP Legislator Hsieh Hsin-ni (謝欣霓), director of the party's Culture and Information Department, told a press conference at DPP headquarters that the KMT and China Times Group subsidiary Jungli Investment Co owe the public an explanation of the sale.

"We would like to know whether the sale of the three media outlets was a fake," she said. "We would also like to know how many of the outlets Jungli Investment Co bought from the KMT and whether the purchase was designed to help the KMT skirt the Broadcasting and Television Law (廣電法)."

Hsieh said the public was confused by Broadcasting Corp of China (BCC) chairman Jaw Shaw-kong's (趙少康) announcement last Wednesday that he would terminate his contract with Hua Hsia Investment Holding Co, a KMT company, over the purchase of BCC.

DPP Legislator Hsu Kuo-yung (徐國勇) urged investigators to wrap up their probe of the sale. He said he had three questions for China Times Group president Albert Yu (余建新): Which of the three outlets did Yu buy, how much did Yu pay and did the KMT lie about the amounts and, finally, what role did Yu play in the deal.

The KMT sold BCC to Jungli Investment Co in 2005 for what was reported to be NT$9.3 billion (US$281.6 million). China Television Co and the Central Motion Picture Corp were included in the deal.

The Central Investment Holding Company said yesterday it would file a slander suit against Cabinet Spokesman Shieh Jhy-wey (謝志偉) in response to Shieh's allegations on Monday that the sale of Broadcasting Corp of China (BCC), China Television Co and Central Motion Picture Corp had been a scam

"Whether they sue me or not is unimportant, but the lawsuit shows that they're trying to conceal their guilty conscience," Shieh said in reply.

Additional reporting by CNA

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