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Raymond Cheng

The businessman who is buying the city’s top news magazine from pro-democracy publisher Next Digital says he has no plans for the time being to lay off staff in Hong Kong and Taiwan, while the money he will invest in the ­venture is his own and does not come from mainland China.
In an exclusive interview with the Post, Kenny Wee Ho also ­insisted he would respect editorial independence, though he would not allow the magazine to be judgmental.
Next Digital announced on Monday that it was selling its flagship Next Magazine and four ­other media assets in Hong Kong and Taiwan to Wee’s consortium, W Bros Investments Limited, for HK$500 million.

The deal is expected to be completed in September.
Despite Wee’s pledge on “no ­lay-offs for now,” he added that he would have no hesitation to fire anyone writing ”fake news”.
There will be no lay-offs for now
Kenny Wee
Wee is well known in both the media and entertainment scenes.
He married former Miss Hong Kong contestant and actress Suki Chui, and recently sold free newspaper Metro Daily for HK$400 million. He bought the newspaper for HK$200 million in 2013.
As for the demand from the Next Media staff union to retain existing employees, Wee said he wanted to improve the efficiency of production, but “there will be no lay-offs for now.”
“For example, some jobs are done by three people. Is it really necessary to do something with three people? On the other hand, I am just beginning to read the ­information about headcounts and structure. I think headcounts are okay and fair in both Hong Kong and Taiwan.
“There is no need to lay off any staff. I need reporters and editors to produce good stories. In fact, we need to add more staff for breaking news and paparazzi for the entertainment sections,” he said.

Wee also rejected rumours his money was from the mainland. “The cost of buying Next Magazine and other titles will be half a billion Hong Kong dollars, with HK$400 million coming from my recent sale of free daily Metro and HK$100 million out of my own pocket.”
He said the fact that the seller – Next Digital headed by Apple Daily founder Jimmy Lai Chee-ying – was prepared to sell to him already vindicated his position.
“They won’t sell to anyone with a background they don’t like. If my source of funding is not to their liking, they won’t sell to me. I bought Metro Daily four years ago. Did it become ‘red’ [pro-Beijing]? It didn’t.”
Hong Kong media giant Next Digital ‘to outsource 50 designers and artists’ in cost-cut bid
Wee insisted he would “respect editorial independence and would not interfere with the ­normal operation” of Next Magazine, which is known for its sensational reporting of scandals, though he said he could give some “directions”.
Wee said his track record in running Metro Daily was ample evidence of his respect for ­editorial independence.
“For the four years I was ­running Metro, I never censored any stories and did not say whether it should be pro-democracy or pro-establishment ... Editorial ­independence is a must.”
But he said he would ban “biased” stories. “If you can be more neutral and more fair, your credibility will be better. The previous Next Magazine sometimes acted like a judge and made judgments, but this is too biased, so I will not allow that,” Wee said.


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Next Digital

No lay-offs for now, new boss of Hong Kong’s Next Magazine insists

Kenny Wee says he has no plans just yet to lay off any Next Magazine staff. Photo: Edward Wong

Media tycoon Jimmy Lai Chee-ying leaves Eastern Magistrates' court. 28JAN16 SCMP/ K. Y. Cheng

File photo of (L-R) Suki Chui Suk-man and husband Kenny Wee.

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Hong Kong

Hong Kong economy

He claims none of his money comes from mainland China and he will respect editorial independence of colourful publication


Exclusive | No lay-offs for now, new boss of Hong Kong’s Next Magazine insists

He claims none of his money comes from mainland China and he will respect editorial independence of colourful publication