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  • Dec 20, 2014
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Next Media

Next Media was founded by high profile businessman Jimmy Lai, known for his support for democracy and criticism of China. It introduced tabloid-style journalism into Hong Kong and Taiwan, with the hugely successful Apple Daily. The group made a rare misstep by entering Taiwan’s saturated broadcasting market. In October 2012 it agreed to sell its loss-making Taiwan TV unit and to terminate its video-on-demand (VOD) services, but the deal fell through in March 2013.

BusinessChina Business

Business Digest, January 12, 2013

PUBLISHED : Saturday, 12 January, 2013, 12:00am
UPDATED : Saturday, 12 January, 2013, 4:02am

Next Media shares fall on deal uncertainty

Shares of Next Media fell 5 per cent in Hong Kong yesterday on news that Want Want China chairman Tsai Eng-meng, one of the buyers in the consortium that plans to acquire Next Media's print and television businesses in Taiwan, might be disqualified under new regulations against media ownership concentration that are pending approval. Sophie Yu

 

New loan target seen as highest in four years

Beijing will set a target of 8.5 trillion yuan (HK$10.6 trillion) in new yuan loans this year and 13 per cent annual growth in the broad money supply (M2), the official China Securities Journal reported, citing anonymous regulatory sources. The new-loan figure would mean the highest level of lending in four years, it said. Reuters

 

Power generated on mainland up 4.5pc

Total power generation on the mainland rose 4.52 per cent to 4.94 trillion kilowatt-hours last year, Xinhua reported, citing data from the state electricity regulator. The country added 80 gigawatts (GW) of new installed power generation capacity last year, up 7.5 per cent year on year and bringing the total to 1,140GW, the report said. Reuters

 

Contracts roll in for rail-related companies

CSR Corp won 10 billion yuan of domestic and overseas contracts, including a 3.43 billion yuan contract to supply high-speed trains to Argentina, a 1.6 billion yuan contract to supply coal trains to China Shenhua Energy and a 1.53 billion yuan contract to supply rapid transit vehicles to the Shenzhen Metro. Separately, China Railway Construction won two mainland rail contracts, totalling 8.74 billion yuan, and a 4.74 billion yuan highway contract. Toh Han Shih

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