#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Rumoured buyer scotches talk fuelling speculation about just who will buy Fiji's oldest newspaper

Saturday, April 24, 2010

Rumoured buyer scotches talk fuelling speculation about just who will buy Fiji's oldest newspaper

The fate of the Fiji Times remains unknown as one potential buyer is eliminated and the illegal government appears twitchy over the possibility of the country's oldest paper actually closing.

The businessman Mahendra Patel, of Motibhai & Co Limited,  has laughed off rumours his company wants to lead a buyout of Fiji Times' shares.

According to the Fiji Sun, Patel said the rumour was news to the company. "We did not even know that Fiji Times was on sale. We are not interested and there have been no negotiations whatsoever.”

It was thought the illegal government had someone in mind when it produced its media decree, with the controversial provision that foreign ownership of news organisations in Fiji be restricted to just ten per cent.

With the Fiji Times being owned by the Australian Murdoch corporate, News Ltd, the company is supposed to sell once the decree is introduced.

No date has been given for the actual introduction of the Media Industry Development Decree 2010 but it's believed to be imminent.

But who has the capital and the interest (especially, in these conditions) in buying the paper is the $64,000 thousand dollar question and is fuelling talk the illegal government's plans have backfired.

The junta's attorney general, Aiyaz Sayed-Khaiyum, has rushed to say the Fiji Times Limited doesn't need to close down its operations, saying the Fiji Times can stay but has to sell 90 percent of its shares.

The back pedalling suggests the big plan may be unravelling.

News Ltd has been silent, too, which has been taken by some to mean it's ready to turn the printers off.

Picture: File pic of a Fiji Times front page and Sayed-Khaiyum.


Anonymous said...

Poisoned Chalice & big big Moguls.

Unlike illegal AG - people like Mahendra Patel haven't got where they are by being careless and stupid.

What may have originally appeared a pretty straight forward business proposition (buy the local paper) has just taken on another frightening dimension.

Think a young Jack stood at the bottom of the Beanstalk - suddenly realising he's somehow misplaced his axe?

Recall Chaudhry trying this?
(taking on a seriously BIG BOY).

Anonymous said...

Fiji Times will not SELL. They will let the decree come down to close down the doors the military style, so that this news can be well covered internationally.

This will become the biggest ever campaign outside Fiji against the Regime thereafter.

Media outside Fiji will make the regime look real bad boys. This will deter investors even further as they hold off their set plans. Tourism will also start going down or will attract at lower rates and -ve spiralling will pursue even further.

By Fiji Times being shut will have much bigger impact against the "advisor Aiaz" then anything else so far.

Emergine how much anti govt campaign will reach the people by not having a single writing against them, by not having the main media missing BUT sitting in the heart of the city with closed door.

This will have far reaching impact against "Aiaz, the sole mischief advisor" with the military council who will end up finally being demanded to be thrown out. He will face the same fate as Chodhry for what the oil companied did to push him out.

My adviuce to military council is to act NOW and rid the mad man and Australia to withdraw the suspension of his P/R so that he has option to find himself a better option then remain in IG to give bullshit advise and make RFMF look like ideiots.

If they let the media decree go through without taking out 90% against Fiji Times - there is more to come against them for them to feel the pressure far greater then Qarase being a thorn or Chaudhry being a thorn.

The goal post will move and the outlook will make look more like African kings in Pacific in a big way.

And if IG comes back to force take over the property of FT with slapping another decree, the investors will definately not show for a very long time even after election takes place. No investors put their money where the rate of return to their investment is a RISK taking beyond their control!!!

So what another devaluation?

God Bless Aias - I seriously feel sorry for his boss.

Anonymous said...

Maybe the illegal Vore regime can buy out the 90% .... with a little help from their Chinese cronies the dumb fools.

Anonymous said...

Difference between a stupid & wise man is the formers inability to forsee the consequences of their actions.

mark manning said...

Let them buy the Fiji Times, then stop buying it !

Anonymous said...

Is that why 'watshername', an expat and an Aussie was handed the PS of Info post on a silver platter? Oh boy, like the saying goes, 'You can fool some people some of the time, BUT YOU CANNOT FOOL ALL THE PEOPLE ALL OF THE TIME'. Oso...tut...tut...tut.......