BBC News: Takeover of Thai paper dropped
"An entertainment industry mogul in Thailand has abandoned his hostile takeover bid for the country's most respected newspaper, Matichon. Paiboon Damrongchaitham, head of the GMM Grammy group, said he would cut his majority stake due to protests from the newspaper's owners and staff. Journalists and democracy activists had denounced his attempt to buy into the paper as an attack on press freedom. Mr Paiboon is known to be close to the Prime Minister, Thaksin Shinawatra."
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