Next Media’s board of directors decided on Friday to end operations if Apple Daily’s assets are not thawed

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Written by: Wang Jieen

2021-06-21 15:54

The last update date: 2021-06-21 15:58

According to the news, the board of directors of Next Media met today (21st) to discuss whether the "Apple Daily" will continue to operate or cease publication.

It is understood that the board of directors decided to set the dead line on Friday (25th). If the Security Bureau fails to unblock the frozen assets, the company will be short of funds to operate. It decided to close the business on the same day, that is, the newspaper that "Apple Daily" published on Saturday is On the last day, the Apple News Network ceased operations at 11:59 pm on Friday night.

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The Security Bureau earlier quoted the "Docklands National Security Act" to freeze about 18 million yuan in assets of three companies related to the "Apple Daily", which may cause employees' salary issues.

Depends on whether the closure can be unblocked on Friday to decide whether to close the business

Next Media’s board of directors met today. It is reported that Next Media has requested the Security Bureau to unfreeze assets and set Friday (25th) as a dead line. If it fails to unblock it, the company will lack funds to operate.

It is reported that Next Media will decide whether to close the business on Friday.

If the assets cannot be unblocked on Friday, Next Media will complete the newspaper publication on the same day and publish the newspaper the next day; the dead line of online news will be 23 minutes and 59 minutes that night.

According to the news, if an employee decides to resign immediately, it can take effect immediately, by verbal notification and submitting a letter of resignation.

The police raided the Next Media Building twice in a year.

(Information Picture/Photo by Luo Junhao)

Searched the Apple Daily twice in a year

"Apple Daily" was launched on June 20, 1995.

On June 17 this year, the National Security Office of the police arrested 5 senior officials of Next Media on suspicion of “conspiring to collude with foreign countries or foreign forces to endanger national security” in violation of the National Security Law. At the same time, more than 100 police officers carried court warrants to search the Next Media building. This includes the power to search news materials.

Earlier, on August 10, 2020, the police also raided the Next Media Building and arrested the founder of Next Media Li Zhiying on charges of violating the "Hong Kong National Security Act" and conspiring to commit fraud. He was granted bail for a few days before the government appealed, so he is still remanded in custody.

Reuters: Li Zhiying consultant Mark Simon said "Apple" may be forced to stop operation within a few days

"Apple" reported that cash has only been operating for a few weeks, but it is not optimistic.

Next Media Case｜Wu Qiubei: If "Apple" employees encounter rights problems, they can ask the Federation of Trade Unions for help

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