Legal Issues of Recent Media Mergers and Acquisitions in Taiwan──The Cases of China Times Media Group, China Network Systems, and Next Media
|Keywords:||媒體併購;媒體集團化;結構管制;媒體法;反媒體壟斷法;數位匯流;中國時報集團;中嘉網路;壹傳媒集團;media mergers and acquisitions;media conglomerate;structural regulation;media law;anti-trust media law;digital convergence;China Times Media Group;China Network Systems;Next Media|
Media industry has always been a special industry. As an industry, it no doubt has a commercial character. As a message transferring tool, the media has a certain level of public interests in it. Therefore, it has long been debatable whether it is the market model or the public sphere model that should be regulating the media industry. The government also, inevitably, need to strike a balance point between the two models. However, technology has made this balance point illusive due to the fact that different technologies affect the level of regulation by the government. Even the same technology would evolve rapidly with time causing the government to adjust its policy of regulating the media industry constantly. Recently, due to the expected convergence of digital media, a new wave of media mergers took place worldwide, even in Taiwan. Something to think about in this new wave of media mergers: Have our government authorities designed a complete structure of regulation? What are the criterions? Are there sufficient empirical evidences? To better observe and evaluate the soundness of our legal structure in media mergers and acquisitions, this thesis will take three media merger cases of Want Want Group as examples. This thesis first reviews the theories of media regulation and cost-benefit analysis of conglomeration, then argues for the need of more deregulation. In addition, this thesis discusses the three media merger cases that Want Want Group launched (China Times Media Group, China Network Systems, Next Media) from two different aspects: facts and law. Moreover, this thesis deliberates on the draft laws of convergence, and also on anti-monopoly in media that applies its framework to dissect the abovementioned three cases to reversely examine the proposed legislation’s reach. Lastly, a brief analysis on the best possible legal structure for Taiwan in the current socio-economic setting.
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