Is Pro-China Media Hong Kong Apple Daily Facing Closure? ... Taiwan Edition Apple Daily Sold

Signed MOU for Sale of Apple Daily Subsidiary 'Amazing Sino International'
Chinese State Media Suggests Possible Closure or Liquidation of Apple Daily... Likely to Spark Media Suppression Controversy

[Asia Economy Beijing=Special Correspondent Jo Young-shin] The Taiwanese edition of Apple Daily, a representative anti-China media outlet in Hong Kong, is being sold. Jimmy Lai, the owner of Apple Daily, was recently sentenced to 14 months in prison by a Hong Kong court on charges of organizing illegal assemblies.

China's state-run Global Times reported on the 21st that Next Digital Group, the largest shareholder of Hong Kong's Apple Daily, has signed a memorandum of understanding (MOU) to sell its subsidiary, Amazing Sino International. Amazing Sino International holds shares in the Taiwanese edition of Apple Daily.

The Global Times stated that it is currently unknown who will acquire Amazing Sino International and what the sale price will be.

[Image source=Yonhap News]

In this regard, Cheung Kim-hung, CEO of Hong Kong Apple Daily, explained, "Discussions are currently underway regarding the business and assets to be sold, and the Apple Daily assets in Taiwan are the subject of the sale."

Regarding this sale, mainland China experts interpret it as a measure to respond to future national security investigations into Apple Daily and to recover funds. They also suggested that Hong Kong Apple Daily could be shut down.

Tang Pei, a member of the China Hong Kong and Macau Research Association, said, "Although Apple Daily has shown some changes, such as replacing the term 'Wuhan pneumonia' with 'COVID-19,' it has not changed significantly. This sale of the Taiwanese edition is merely a measure to prepare for upcoming investigations and to recover funds in Taiwan."

The Global Times explained that Ta Kung Pao, a pro-China media outlet in Hong Kong, submitted a petition to Chinese authorities stating that there are still loopholes in Hong Kong's national security and that Apple Daily's publication should be stopped according to the law.

Commissioner Tang argued, "Apple Daily has been used as a political tool to incite riots. Given its significant negative impact on Hong Kong society and youth, it should be shut down or liquidated by the authorities."

This report by the state-run media is interpreted as a public opinion campaign considering the closure or liquidation of Apple Daily. If Apple Daily is shut down, considerable criticism of the Chinese leadership, including accusations of press suppression, is expected.

Apple Daily was founded in 1995 by Hong Kong businessman Jimmy Lai. The newspaper has reported on corruption and power struggles within the Chinese leadership over the years.