News website calls it a day

Chinese-language website Duowei News closed down yesterday and laid off most of its 60 staff, mainly stationed in Beijing.

The media firm ceased operations due to internal business realignment. It thanked readers for their support.

It is understood the US-based political news website was established in 1999 by overseas pro-democracy figure Ho Pin and was acquired by Nan Hai Corporation Ltd in 2009.

The media firm was said to have relocated its headquarters to Beijing soon after being acquired, with the firm also setting up offices in Taipei and Hong Kong.

Its office in Taipei ceased operations late last year.

Media mogul Yu Pun-hoi is Nan Hai Corporation's chairman. Local media company HK01 is one of the corporation's subsidiaries.

Last year the corporation announced an expected loss of about HK$3 billion due to a drop in the culture and media services segment of the group.