In an apparent move to fulfill the three conditions laid down by the National Communications Commission (NCC) for its acquisition of the cable TV services owned by China Network Systems (CNS), the pro-China Want Want China Times Group has reportedly put CtiTV’s (中天電視) news channel in a trust under the Industrial Bank of Taiwan (IBT, 台灣工銀).
IBT head Tony Yang (楊錦裕) confirmed the move on Friday, saying the bank has received enquiries into the entrustment of the news channel and had agreed to take on the case after conducting evaluations.
He declined to reveal further details.
CtiTV spokesman Huang Chun-jen (黃俊仁) could not be reached for comment as of press time.
The commission on July 25 last year conditionally approved the media giant’s bid to purchase cable services owned by CNS, the nation’s second-largest multiple systems operator.
The approval would take effect once the media conglomerate fulfills three stipulated conditions before specific deadlines: that Want Want China Times Group Chairman Tsai Eng-meng (蔡衍明) and his family sever all ties with the management of CtiTV’s news channel; that China Television Co’s (CTV, 中視) news channel be changed into a non-news channel; and that an independent editorial system be set up for CTV’s news department.
The acquisition could affect about 1.18 million of the nation’s households, or about one-quarter of households with a TV, making Want Want China Times Group — which already owns several media outlets including CTV, Chinese-language newspapers Want Daily, China Times and China Times Weekly — the largest media group in the country.
Upon the transfer of CtiTV’s news channel into a trust, the TV station’s management and personnel administration would fall under the control of IBT.
However, under normal circumstances, the trustees would not be entitled to unilaterally dispose or transfer properties belonging to the trustors without the latter’s specific authorization.
According to an official from the Securities and Futures Bureau at the Financial Supervisory Commission, who requested anonymity, creating a trust would allow the trustor to transfer not only the management right of their property, but also its legal ownership to the trustee.
While there is no statutory time limit for making such ownership transfers, both parties involved could stipulate a timeframe of their own accord, the official added.
“However, settlors are also given the option to retain discretionary rights over their trust assets, allowing them to stipulate terms such as that sales of their properties would only take effect upon their approval,” the official said.
The official added that the scope of the trustors’ entitlement to their trust properties could be determined in advance by both parties.
Meanwhile, the media group has also tendered to the commission a managerial proposal to transform CTV’s news channel into a non-news channel and an application to establish an autonomous editorial system for CTV, NCC spokesman Yu Hsiao-cheng (虞孝成) said.
Yu said the commission was already examining the documentation submitted by the group and would refer the case to the NCC committee for deliberation in due course.
Yu added that there would be no timeframe for the conclusion of the review.
“The amount of time required to review the case hinges on its level of complexity. But the one thing the NCC can be assured of is that all three conditions must be fulfilled [before the approval could take effect],” Yu said.
In related news, Tsai’s son, Tsai Shao-chung (蔡紹中), resigned as CtiTV chairman on Friday, reportedly in a move to pave the way for him to take the helm of the Chinese-language Apple Daily, one of the four Taiwanese media outlets previously owned by the Next Media Group that were sold in November last year to a consortium of which his father was a member.
Other media outlets included in the NT$17.5 billion (US$600.86 million) acquisition — which has been at the center of a recent spate of student protests against media monopoly — were Next TV as well as Chinese-language newspaper Sharp Daily and Next Magazine.
CtiTV general manager Ma Yung-jui (馬詠睿) will take over the position left vacant by Tsai Shao-chung.
Additional reporting by Wang Meng-lun and Huang Cheng-yin
WANG RELEASED: A police investigation showed that an organized crime group allegedly taught their clients how to pretend to be sick during medical exams Actor Darren Wang (王大陸) and 11 others were released on bail yesterday, after being questioned for allegedly dodging compulsory military service or forging documents to help others avoid serving. Wang, 33, was catapulted into stardom for his role in the coming-of-age film Our Times (我的少女時代). Lately, he has been focusing on developing his entertainment career in China. The New Taipei District Prosecutors’ Office last month began investigating an organized crime group that is allegedly helping men dodge compulsory military service using falsified documents. Police in New Taipei City Yonghe Precinct at the end of last month arrested the main suspect,
A cat named Mikan (蜜柑) has brought in revenue of more than NT$10 million (US$305,390) for the Kaohsiung MRT last year. Mikan, born on April 4, 2020, was a stray cat before being adopted by personnel of Kaohsiung MRT’s Ciaotou Sugar Refinery Station. Mikan was named after a Japanese term for mandarin orange due to his color and because he looks like an orange when curled up. He was named “station master” of Ciaotou Sugar Refinery Station in September 2020, and has since become famous. With Kaohsiung MRT’s branding, along with the release of a set of cultural and creative products, station master Mikan
LITTORAL REGIMENTS: The US Marine Corps is transitioning to an ‘island hopping’ strategy to counterattack Beijing’s area denial strategy The US Marine Corps (USMC) has introduced new anti-drone systems to bolster air defense in the Pacific island chain amid growing Chinese military influence in the region, The Telegraph reported on Sunday. The new Marine Air Defense Integrated System (MADIS) Mk 1 is being developed to counter “the growing menace of unmanned aerial systems,” it cited the Marine Corps as saying. China has constructed a powerful defense mechanism in the Pacific Ocean west of the first island chain by deploying weapons such as rockets, submarines and anti-ship missiles — which is part of its anti-access/area denial (A2/AD) strategy against adversaries — the
Eleven people, including actor Darren Wang (王大陸), were taken into custody today for questioning regarding the evasion of compulsory military service and document forgery, the New Taipei District Prosecutors’ Office said. Eight of the people, including Wang, are suspected of evading military service, while three are suspected of forging medical documents to assist them, the report said. They are all being questioned by police and would later be transferred to the prosecutors’ office for further investigation. Three men surnamed Lee (李), Chang (張) and Lin (林) are suspected of improperly assisting conscripts in changing their military classification from “stand-by
RSS