TAIPEI: Hong Kong-controlled Next Media said it was set to sell major Taiwanese publications to local businesses despite protests the move would make the country's media more pro-Beijing.
"Lawyers from the two sides have nearly finished their work on the legal documents of the deal," a senior official from Next Media Taiwan told AFP on condition of anonymity late Tuesday.
The Tw$17.5 billion ($600 million) deal will see Next Media controlled by Hong Kong tycoon Jimmy Lai, who is a vocal critic of China sell off Apple Daily's Taiwan edition, Taiwan Sharp Daily, Next magazine and Next TV.
Nearly 200 students and activists protested outside the cabinet offices in Taipei earlier Tuesday, arguing the deal would create a pro-China media monopoly.
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