Next Media to buy the publications of chairman for 2.6 billion hkd

Next Media Ltd (0282) will acquire the publications of chairman Jimmy Lai, which include Apple Daily and Next Media weekly, for 2.6 bln hkd. Next Media will issue new shares to fund the acquisition. The price of 2.6 bln hkd is below the publications' estimated value of 5 bln hkd.

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