Bloomberg Quicktake: Now published this video item, entitled “Apple Daily to Suspend Paper If Hong Kong Accounts Stay Frozen” – below is their description.
Next Digital Ltd. plans to stop publishing Apple Daily later this week if authorities don’t allow access to its bank accounts, and will make a final decision on Friday, the pro-democracy newspaper reported on Monday.
In an internal memo at the flagship newspaper of media tycoon Jimmy Lai, a senior editor said online news would stop at 11:59 p.m. on Friday night and the final print edition would be distributed on Saturday if the funds remain frozen. In a staff meeting, managers offered to allow reporters to quit immediately, according to people familiar with the situation who asked not to be named.
“In theory, if the company decides to shut down on Friday and lay off employees, there may be an additional month of payment in lieu of notice, but no one can guarantee that,” said the memo seen by Bloomberg News. “The wish of the management is for everyone to stay till the end, but the risks are unpredictable. Everyone should make their own decisions.”
Representatives for Apple Daily didn’t immediately respond to a request for comment.Bloomberg Quicktake: Now YouTube Channel
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