27 Apr 2004

Fiji Daily Post sale mooted to Australian group

3:33 pm on 27 April 2004

Talks are underway in Fiji on the sale of one of three English language dailies, the Daily Post, to a group of Australian businessmen and a local.

The Colonial Group of companies is the majority shareholder with the Fiji government and the Unit Trust of Fiji being the other significant owners.

Radio Fiji reports that the government has been planning to sell its shares in the newspaper for some time because of its losses.

The radio says if the sale goes through, the local partner will manage the Post and a veteran local journalist will assume editorial control.

A former finance minister in the Rabuka government, Jim Ah Koy, bought majority shares in the newspaper for the state in the late 1990s.