Chinese media deal under scrutiny

Taiwanese prosecutors examine details

Hong Kong -Taiwanese prosecutors are examining details of the Chinese Nationalist Party (KMT)’s sale of media assets to the newspaper publisher China Times Group.

The KMT sold China Television, the Broadcasting Corp. of China and film production operation Central Motion Pictures in December 2005 before they could be confiscated by the government.

The prosecutors are weighing up charges of breach of trust and misappropriation. The firms were said to be worth in excess of $450 million, but were sold for $309 million via China Times to Jung-li Investment Co. Jung-li subsequently sold Central to businessman Gou Tai-chiang (Variety, May 3, 2006.)

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