Asia Pacific Vision Limited: Broadcast and Video Production

Hong Kong publishing magnate Jimmy Lai says reports of the death of the newspaper industry are vastly overstated.

Speaking at the Hong Kong Foreign Correspondents' Club recently, the head of Next Media and publisher of tabloid Apple Daily says that the problem with most newspaper publishers is that they are afraid of change.

Lai says newspapers must embrace new media and rethink their business models, but he also warns that publishers cannot view the Internet as simply a platform for social welfare.

Lai has enjoyed tremendous success in Taiwan, where he launched a newspaper and magazine several years ago, and where he is now entering the television business. He explained why he thinks there is an opportunity in broadcasting in Taiwan.