Next Media has agreed to sell its Taiwanese print and television media outlets to a group of local businessmen for NT$17.5bn ($601m), according to the Hong Kong-based group.
The controversial agreement to sell the assets, including the popular Apple Daily tabloid, was first announced in October but had been delayed as Next Media and the five buyers hammered out details.
The print operation will be sold to a consortium of prominent local businessmen including Tsai Shao-Chung, president of Want Want Chinatimes Group; Jeffrey Koo Jr, whose family runs Chinatrust Financial Holding; Lee Shih-tsung, chairman of Lung Yen Life Service Corp; and William Wong, chairman of Formosa Plastics Group.
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