Next Digital on Thursday confirmed its weekly Next Magazine would cease publication of its online version at the end of February, 19 years after it entered the Taiwanese media scene.
The print version of the magazine discontinued operations back in March of 2018.
Established by Lai Chee-Ying, better known as Jimmy Lai, a Chinese born, Hong Kong media and clothing magnate the closure was attributed to “business transformation needs” according to The Standard of Hong Kong.
Next Magazine’s sister publication, the Apple Daily (Taiwan version est. 2003) will continue to operate although the announcement of Next’s demise caused shares in Next Digital to fall almost half a percentage point to HK$ 0.23 in early afternoon trading.
Over its almost two decades of operations in Taiwan, Next Magazine was known for its tabloid-style scandal driven output that frequently led to court cases on the back of complaints from politicians and other public figures in Taiwan’s business and entertainment worlds.
However, whilst the online version will cease to exist, reports online do indicate the content format will now be carried by the Apple Daily. itself the Taiwanese version of the Hong Kong based tabloid founded by Lai in 1995.
Exact numbers of staff affected are not immediately known, but the company has already indicated its intent to guarantee the labor rights of all staff in addition to ensuring the return of subscriptions already paid or offering the chance to transfer said fees to an Apple Daily subscription.