News Corporation forced to sell Fiji Times under new law
August 2nd, 2010Posted by Rachel McAthy in Business, Newspapers
Offers are now being taken for Rupert Murdoch’s Fiji Times, following a new decree in the country which means media outlets must be largely owned by the country’s citizens.
According to a report by the Shaping the Future of the Newspaper blog, PricewaterhouseCoopers – hired by News Limited (News Corps’ Australian brand) to value the daily paper – is calling for “expressions of interest” from potential buyers up until 9 August.
Under the new decree, which went into effect on June 28, media outlets must be 90 percent owned by Fijians citizens that reside in the country. Although News Limited did not want to sell the newspaper, the military government has said there will be no amendments to the decree and no extensions will be given.
Tags: Fiji Times, News Corporation, News Limited, Rupert Murdoch, Shaping the Future of the Newspaper
