Online news outlet Storm Media (風傳媒) yesterday said it has acquired 100 percent stakes in the Chinese-language weekly magazine The Journalist (新新聞) and Taiwan Indicator Survey Research (台灣指標民調), adding that the merger would create synergy and expand the influence of its news reportage.
It is the first time in Taiwan that a traditional news outlet was acquired by an online news site.
Storm Media said in a press release that the acquisition was made through a technology company owned by its founder, David Chang (張果軍).
Following the merger, Storm Media said it will increase the capital of The Journalist and TISR by NT$48.5 million (US$1.58 million) and NT$4 million respectively.
Although the Internet has completely changed the media industry, the media still need to respond to social trends and create a rational space for public discussion, Chang said.
The news team jointly formed by Storm Media and The Journalist will continue to adhere to the ideals of being a forerunner in free press and laying the foundations for a democratic society, Chang said.
Chang said in an interview with Storm Media that the nation still has room for a magazine dedicated to the coverage of Taiwan’s political scene.
There will not be any change in management following the merger, Storm Media said, adding that all three units will continue to operate independently.
However, there will be more opportunities for the three entities’ teams to work together and exchange ideas, it said.
The online news outlet said that surveys published by TISR have been closely monitored by the governments in Taiwan, China, Hong Kong and Macau, such as its Taiwan Mood Barometer Survey.
The Journalist published its first edition on March 12, 1987 — six months after the Democratic Progressive Party was established, Storm Media said.
The magazine, which labels itself as a free and independent news agency, was a source of objective information that people accessed when the nation’s authoritarian regime was on the brink of collapse, Storm Media said.
The Journalist deputy managing editor Marshall Chen (陳東豪) said that Taiwanese online media outlets lacked in-depth and critical analysis of events.
A weekly news magazine would gradually lose its competitiveness if it continues to stand alone without an online outlet, Chen said.
Online news media can transmit information instantly, incorporate audiovisual content in the presentation of news and interact with readers through social media, Chen said, adding that a news magazine, in contrast, offers in-depth news reportage.
The partnership between Storm Media and The Journalist would be beneficial for both news outlets, he said.
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