K&L Gates Advises on Acquisition of Media Assets of Apple Daily Taiwan

Hong Kong – Global law firm K&L Gates has advised Turn Capital on its acquisition of the media assets of Apple Daily Taiwan. The closing of the acquisition is expected to take place later this year, subject to corporate and regulatory approvals.

Turn Capital is an Asia-focused single family office established by technology entrepreneur Joseph Phua. Turn Capital acquires and invests in technology companies and provides strategic advice to portfolio companies looking to enhance their business models, integrate resources and increase enterprise value. Portfolio companies of Turn Capital include 17LIVE Inc., the leading live-streaming platform throughout all of Asia except China, SoundOn, the leading podcast management platform in Taiwan, and Coinomo / OMO Finance, a fast-growing blockchain company in Asia.

Apple Daily Taiwan is one of the leading news media platforms in Taiwan, publishing electronic newspapers and magazines under the titles of the Apple Daily (台灣蘋果日報), Next Magazine (台灣壹週刊) and Eat and Travel Weekly (飲食男女). Apple Daily Taiwan has more than 300 employees worldwide. 

The K&L Gates cross-practice and cross-jurisdictional team that advised Turn Capital was led by Hong Kong corporate partner William Ho, with support from associates Eva Ying and Dorothy Hung; Taiwan corporate partner Joseph Tseng, with assistance from associates Lillian Chen and Yoting Lin on Taiwan local law matters; and Hong Kong litigation partner Sacha Cheong on contentious matters, as well as Hong Kong finance partner Eugene Yeung on restructuring matters. 

Ho stated: “We are thrilled to have assisted Turn Capital in expanding its presence in the Taiwan digital media market. We look forward to supporting Turn Capital with additional acquisitions of landmark assets and new business in the near future.”