
In a surprising turn of events, Best News Entertainment, self-proclaimed as New Zealand’s largest foreign-language media outlet, has been placed into receivership. This significant player in the Chinese-language media landscape operated three radio stations – Chinese Voice, Love FM, and AM936 – alongside a digital news platform, NZ936, and a free-to-air TV channel, TV32. TV32 offered a diverse range of programming including original content, news, and broadcasts from Taiwan, Hong Kong, and China.
The move comes at the behest of Fu-nu Tsai, the largest shareholder, holding a 60% stake in the company. Auckland-based Lynn Li Mei Chang, the sole director, retained the remaining 40% ownership. Companies Office records confirm these ownership details. The receivership throws into question the future of these popular media channels and their dedicated audiences.
This isn’t the first time Best News Entertainment has faced financial difficulties, adding another layer of complexity to this unfolding story. The reasons behind the receivership remain unclear, pending further investigation and official statements.