ANTI-PROPAGANDA MACHINE:The agency has asked the firm to return two national broadcasting licenses, as they were granted to block Communist transmissions
Taipei Times
Date: Aug 18, 2016
By: Shelley Shan / Staff reporter
The National Communications Commission yesterday again rejected a Broadcasting Corp of China (BCC, 中廣) application to reduce its capital, saying that the company might hold illegal assets previously owned by the Chinese Nationalist Party (KMT).
Yesterday’s ruling was the third time the commission has denied the nation’s largest radio network over capital reductions. The two previous applications were rejected in 2011 and last year.
Commission spokesperson Wong Po-tsong (翁柏宗) said that BCC applied to reduce its capital from approximately NT$3.2 billion to NT$628 million (US$101.74 million to US$19.97 million). [FULL STORY]