Taiwan's Apple Daily seeks buyer after shutdown of HK edition

Taiwan’s sister website of former Hong Kong newspaper Apple Daily has found a new buyer which would retain most of its staff, while the identity of the owner will be disclosed later.

According to its statement released on 8 June 2022, Taiwan's Apple Daily said it has "completed a handover". The statement also said that Ip Yut Kin, CEO of the news organisation, told everyone in person that the first-level executive meeting was held because the mass dismissal law in Taiwan has to be announced 60 days in advance.

The leader of the firm said: "Most of my colleagues can be transferred to the new owner and retained. I will also transfer to the new firm and serve as their honorary chairman." The chairman and executive chairman of the new company will be announced later. According to sources from Taiwan media, Taiwan Apple Online would complete the process in two months, then transfer their employees to the new firm in early August.

However, there have been speculations that the new buyers are business men Kenny Wee and Poon Kit Yin, founders of social livestreaming platform App 17Live, who previously acquired the biggest podcast management platform SoundOn in Taiwan. 

The news of acquisition has brought 920+ mentions in the past day, drawing mixed sentiments over social platforms in Taiwan, with 14%being negative due to the fact that the Hong Kong Apple Daily was forced to shut down, but 5% remain positive because of the rumors that Wee has bought the Taiwan entity, according to Meltwater's analysis.  On the other hand, the firm’s statement also clarified that the transaction of the “handover” is worth much more than 300 million new Taiwan dollars, in response to the false reports of local and overseas media.

In terms of the future direction of the firm, the statement stated that the new Taiwan’s Apple Daily would pay more attention to the technological development of digital news. It also stressed that the original intention of the firm remains, “it will always voice up about injustice for readers, kick out corrupted gangsters, expose celebrities. "

The liquidator for Next Digital, the media group founded by jailed Hong Kong tycoon Jimmy Lai Chee-ying, had been negotiating with potential buyers, Apple Online said last December. The Hong Kong operation closed in June last year after executives and journalists were arrested and financial assets frozen for allegedly breaching the national security law.

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