Media tycoon Lai resigns as chairman of Next Digital

[HONG KONG] Hong Kong media tycoon Jimmy Lai, who was charged earlier this month with colluding with foreign forces under the city's new national security law, resigned as chairman of Next Digital, the company he founded said in a filing on Tuesday.

Lai, 73, tendered his resignation "in order to spend more time dealing with his personal affairs," according to the statement. Next Digital said Ip Yut Kin would replace him as chairman.

The pro-democracy activist is currently on bail. Lai is a prominent critic of Beijing and Hong Kong's authorities, while his Apple Daily newspaper has vigorously championed the city's protest movement.

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