WSJ has the news:
Hong Kong media magnate Jimmy Lai's Next Media Ltd. (0282.HK) said Tuesday that buyers for its Taiwan print operations have decided to let the agreement lapse ahead of a deadline.Not much more you can say at the moment, until the news leaks over the next few days to explain why the Tsai group pulled out. At least it isn't being purchased by an odious pro-Beijing group. Perhaps Mr Lai will find it in his wallet, if not his heart, to continue to operate it as an independent, non-partisan, muckraking paper.
Next Media signed a preliminary deal late last year to sell its Taiwan print assets for 16.0 billion New Taiwan dollars (US$540 million) to a group that includes Tsai Eng-meng, chairman of the Want Want China Times Group; Jeffrey Koo Jr., the eldest son of Chinatrust Financial Group's chairman; William Wong, chairman of Formosa Plastics Group; and David Lee, chairman of funeral-services provider Lung Yen Life Services Corp.
Mark Simon, a commercial director at Next Media said the buyers have told Next Media they won't meet a deadline for the deal set for Tuesday night, but didn't elaborate why. Mr. Simon said the deal to sell the company's Taiwan television operations for NT$1.5 billion is "still alive."
[Taiwan] Don't miss the comments below! And check out my blog and its sidebars for events, links to previous posts and picture posts, and scores of links to other Taiwan blogs and forums! Delenda est, baby.