Best News Entertainment, New Zealand’s leading Chinese-language media company, has been bought out of receivership by its majority shareholder, Fu-nu Tsai.
The company runs TV32, Chinese Voice, Love FM, and digital outlet NZ936. NZ936 markets itself as “Stuff for the Chinese community.” The acquisition comes after months of financial restructuring and insolvency proceedings.
Sale Completed Through Metro Capital Holdings
Receivers were appointed to Best News Entertainment in June 2025 following loan arrears and default, according to documentation seen by Newsroom.
The business has now been purchased by Fu-nu Tsai via a new entity, Metro Capital Holdings, directed by Chia-ling Lin and Hsueh-lan Huang. Newsroom reports that job losses have occurred during the sale and insolvency process, though the company and receivers did not provide comment.
Financial Context and Receivership
The receivers’ first report, published on 30 August before the sale, stated the company owed Tsai $4,771,052. Other preferential and secured creditors, including Inland Revenue and employees, were owed a combined $1,243,233. The purchase price has not been disclosed.
Tsai previously financed the business after acquiring media assets from the liquidation of World TV in 2021, where he held a 21.6% stake. World TV collapsed due to decreased advertising during the COVID-19 pandemic and historic fraud by its directors.
According to former World TV managing director Jody Chang, “a coup within the business in 2016 allowed convicted fraudster Henry Ho and a group of shareholders to take control of the company.” Tsai later covered millions in debt via loans.
Media Empire and Audience Reach
Best News Entertainment commands more than 90% of New Zealand’s Chinese television audience. TV28 attracted 56,800 viewers, while Chinese Voice and Love FM each boasted over 32,000 daily listeners. The company also maintains a substantial YouTube presence.
“Recent content on its channels have canvassed New Zealand and international news, with recent international news centred on the 2025 China Victory Day Parade,” the company’s media kit states. Its platforms appear to have avoided the scrutiny levelled at other Chinese-language media outlets, such as Skykiwi and the Chinese New Zealand Herald.
Management Team Poised to Navigate Post-Receivership Challenges
Chia-ling Lin, former director of World TV, and Hsueh-lan Huang now oversee operations under Metro Capital Holdings. Industry watchers are monitoring whether Tsai’s management will maintain editorial independence and financial stability.
Concrete documentation shows Tsai consolidates control over the nation’s largest Chinese-language media firm, continuing a complex history of acquisitions and debt recovery.
The sale positions best news entertainment to continue serving New Zealand’s Chinese-language audience, even as scrutiny over media influence persists.