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TV Most stages its “1st-Guy-Ten-Big-Ging-Cook-Gum-Cook-Awards-Distribution” in Queen Elizabeth Stadium in Wan Chai on Monday night. Photo: SCMP Pictures

Parent of Ming Pao Daily to sell stake in subsidiary company that runs politically sensitive satirical websites

Magazine 100 Most and satirical website TV Most among those likely to change hands

The parent company of Chinese-language newspaper Ming Pao Daily is selling a stake in a subsidiary media company that runs politically sensitive social media content.

Media Chinese, which is owned by Malaysian businessman Tiong Hiew-King, said in a statement on Monday night that it was selling an unspecified interest in One Media – which runs several Chinese-language magazines including Ming Pao Weekly and car magazine Top Gear

Media Chinese did not reveal any information about a potential buyer or say how many shares it was selling in One Media, but it owns 62.83 per cent of the company.

This comes after mainland e-commerce giant Alibaba recently dismissed speculation that it was in talks to buy Ming Pao.

In 2012, One Media bought 10 per cent of media company Black Paper for HK$1 million.

The company was co-founded by a lyricist with two former Commercial Radio DJs in 2009, a year before they rolled out the periodical Black Paper, which was printed on a single sheet of A5 paper.

The magazine gained a reputation for its satirical, outspoken content during the national education controversy in 2012.

The company, Black Paper, has also published the popular Chinese-language satirical weekly magazine 100 Most since 2013.

In 2015, it founded the satirical media website, TV Most, which gained popularity with its political and social parodies.

TV Most was one of the most popular multimedia platforms on social media, making fun of Hong Kong and mainland politics as well as Hong Kong government officials.

Yesterday, One Media’s shares jumped 27 per cent, or 26 cents to HK$1.22 before it suspended trading, pending a statement on the deal.

The news came as TV Most staged its show titled “1st-Guy-Ten-Big-Ging-Cook-Gum-Cook-Awards-Distribution” at Queen Elizabeth Stadium in Wan Chai last night, and it went viral online.

The show was also broadcast live on a TV channel.

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