Jimmy Lai resigns as chairman of Hong Kong media group Next Digital

Jimmy Lai Chee-ying has resigned from his position as chairman of Next Digital, the Hong Kong media group said on Tuesday.

Ip Yut-kin, currently the non-executive director of the company, was appointed as chairman of the board Tuesday.

Court documents showed Lai was suspected of soliciting a foreign country or an institution, organization or individual outside China to impose sanctions or blockade, or engage in other hostile activities against the Hong Kong Special Administrative Region (HKSAR) or China between July 1 and December 1.

Lai was granted a bail of 10 million Hong Kong dollars ($1.28 million) by a Hong Kong High Court on December 23, local media reported.