Fears of Flat Media as Taiwan’s Apple Daily Goes Up for Sale
Snow White fell into a deep slumber after eating a poisonous apple. Now some
in Taiwan are wondering whether or not the same fate might be in store for the
island’s news industry after word arrived Tuesday night that Apple Daily — one
of Taiwan’s most flamboyant newspapers — has been put up for sale.
According to a statement released by Hong Kong-based Next Media at the Hong Kong stock exchange on Tuesday, the company is in talks with a third party to sell its entire Taiwan print unit, including the flagship Apple Daily newspaper and Next Weekly magazine.
Talks are only in the preliminary stages, the statement said, adding that all
the publications would continue to operate normally. It didn’t mention the
company’s loss-making Taiwanese TV station.
The news set off a round of wild speculation about the motives behind the sale even though rumors that Next Media founder Jimmy Lai was planning to shed his Taiwan media operations have been floating around since April.
Since its launch in May 2003, the Taiwanese edition of Apple Daily, known for its anti-China stance, has dramatically altered the island’s media landscape. Once subdued and conservative, Taiwanese news media have grown increasingly provocative, pushed in that direction by the arrival of Apple Daily’s paparazzi-driven – and highly profitable – reporting.
The company’s in-your-face style, graphic pictures of violence and sex, and flair for juicy exposes of political and celebrity scandals have propelled the newspaper to No. 2 in Taiwan’s circulation rankings behind the Liberty Times, a newspaper friendly to the opposition Democratic Progressive Party. Next Weekly Magazine also ranks among the island’s favorite publications.
However, the recipe behind Apple Daily’s success in Taiwan is also making it increasingly difficult for Mr. Lai to stretch and expand on the island, local media observers say.
Mr. Lai’s latest project – Next Television—has hemorrhaged money as its continually tries, and fails, to secure a license from the island’s media regulator. People inside the company said the obstacles are mostly politically motivated due to the company’s criticisms of the pro-China stance of the ruling Kuomintang, or Nationalist Party.
As an entrepreneur, Mr. Lai sees little room for his media business to grow in Taiwan because of meddling from the government, a person familiar with the matter told Wall Street Journal.
“He simply feels the Taiwan government is cutting him off at every corner,” the person said.
Mr. Lai has also been frustrated by the government’s decision grant approval to China-leaning tycoon Tsai Eng-meng of the Want China Times Group to purchase additional television channels on top of his existing three television stations, three newspapers, and a handful of magazines.
“It will be a great loss of for Taiwan readers if Apple Daily does leave. Our two major newspapers are on completely opposite ends of the political spectrum and it is very important to have a unique, less party-influenced voice on the island,” said Liu Chang-de, a journalism professor at National Chengchi University, referring to the Liberty Times and the pro-KMT China Times.
Other media observers predicted the sale of Apple Daily would have little impact on Taiwan’s media environment because the paper’s profitability made it unlikely the next buyer would change it’s approach.
“Basically, it would be like old wine in new bottles,” said Tang Shih-che, a professor at National Chung Cheng University.
According to Next Media’s annual report for the fiscal year ended March 2012, Taiwan contributed 43% of the company’s annual revenue. Earnings from the Apple Daily in the period fell 7.6% to HK$198 million, despite a 8.3% increase in advertising revenue, the report says.
– Jenny W. Hsu
China Real Time
http://blogs.wsj.com/chinarealtime/2012/09/06/fears-of-flat-media-as-taiwans-apple-daily-goes-up-for-sale/
According to a statement released by Hong Kong-based Next Media at the Hong Kong stock exchange on Tuesday, the company is in talks with a third party to sell its entire Taiwan print unit, including the flagship Apple Daily newspaper and Next Weekly magazine.
- Reuters
- Jimmy Lai, chairman and founder of Next Media, holds up a copy of the Apple Daily newspaper as he speaks during an interview with Reuters in 2010.
The news set off a round of wild speculation about the motives behind the sale even though rumors that Next Media founder Jimmy Lai was planning to shed his Taiwan media operations have been floating around since April.
Since its launch in May 2003, the Taiwanese edition of Apple Daily, known for its anti-China stance, has dramatically altered the island’s media landscape. Once subdued and conservative, Taiwanese news media have grown increasingly provocative, pushed in that direction by the arrival of Apple Daily’s paparazzi-driven – and highly profitable – reporting.
The company’s in-your-face style, graphic pictures of violence and sex, and flair for juicy exposes of political and celebrity scandals have propelled the newspaper to No. 2 in Taiwan’s circulation rankings behind the Liberty Times, a newspaper friendly to the opposition Democratic Progressive Party. Next Weekly Magazine also ranks among the island’s favorite publications.
However, the recipe behind Apple Daily’s success in Taiwan is also making it increasingly difficult for Mr. Lai to stretch and expand on the island, local media observers say.
Mr. Lai’s latest project – Next Television—has hemorrhaged money as its continually tries, and fails, to secure a license from the island’s media regulator. People inside the company said the obstacles are mostly politically motivated due to the company’s criticisms of the pro-China stance of the ruling Kuomintang, or Nationalist Party.
As an entrepreneur, Mr. Lai sees little room for his media business to grow in Taiwan because of meddling from the government, a person familiar with the matter told Wall Street Journal.
“He simply feels the Taiwan government is cutting him off at every corner,” the person said.
Mr. Lai has also been frustrated by the government’s decision grant approval to China-leaning tycoon Tsai Eng-meng of the Want China Times Group to purchase additional television channels on top of his existing three television stations, three newspapers, and a handful of magazines.
“It will be a great loss of for Taiwan readers if Apple Daily does leave. Our two major newspapers are on completely opposite ends of the political spectrum and it is very important to have a unique, less party-influenced voice on the island,” said Liu Chang-de, a journalism professor at National Chengchi University, referring to the Liberty Times and the pro-KMT China Times.
Other media observers predicted the sale of Apple Daily would have little impact on Taiwan’s media environment because the paper’s profitability made it unlikely the next buyer would change it’s approach.
“Basically, it would be like old wine in new bottles,” said Tang Shih-che, a professor at National Chung Cheng University.
According to Next Media’s annual report for the fiscal year ended March 2012, Taiwan contributed 43% of the company’s annual revenue. Earnings from the Apple Daily in the period fell 7.6% to HK$198 million, despite a 8.3% increase in advertising revenue, the report says.
– Jenny W. Hsu
China Real Time
http://blogs.wsj.com/chinarealtime/2012/09/06/fears-of-flat-media-as-taiwans-apple-daily-goes-up-for-sale/
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