Move by pro-China businessman to acquire influential Taiwan media company

The owner of Taiwan's largest newspaper and its most influential investigative magazine says a pro-China businessman's deal to buy the publications has fallen through.

Hong Kong-based Next Media Ltd. spokesman Mark Simon told The Associated Press that "as far as we know they won't be buying" the publications.

Simon's statement on Tuesday comes one day before the deadline for completion of the New Taiwan dollar $16 billion ($536 million) sale to the son of food magnate Tsai Eng-meng and three business associates.

The prospective deal had sparked opposition in Taiwan because of concerns over Tsai's pro-Chinese stance and his control of another Taiwan media company.