Back to list

Property magnet promises to raise wages at Eastern Broadcasting

2018/01/24 17:05:06

Taipei, Jan. 24 (CNA) Property magnet-led investment firm Mao Te International Investment Co. has promised to raise the monthly minimum wage to NT$30,000 (US$1,000) and increase investment in content production as part of its plan to acquire Eastern Broadcasting Co., one of the leading cable TV stations in Taiwan.

The sale of Eastern Broadcasting, which was announced in November last year, is a complex process that requires the Investment Commission and the National Communications Commission (NCC) review the case, because one of the biggest shareholders in Mao Te International is a foreign company, the Carlyle Group.

Speaking to review board members at a hearing on Wednesday, property developer Chang Kao-shiang (張高祥) who owns the investment firm addressed issues about the acquisition relating to content ratio, workers' rights, press freedom, and company management.

According to NCC deputy chief Wong Po-tsung (翁柏宗), Chang promised to raise entry-level salaries to a minimum of NT$30,000 a month while investing NT$150 million a year for six years on the development of local content and international news reporting.

While Chang did not agree to labor representation on the board of directors, he said that there would be a communications platform for management to remain in close contact with employees, Wong noted.

Chang also promised to build an expert management team that would not interfere with the press freedom and the reporting duties of the company's employees.

Wong did not indicate whether the review board has approved the acquisition, only that the review is ongoing and will conclude next Wednesday.

(By Chu Tse-wei and Kuan-lin Liu)