The former vice president of Taiwan Annette Lu announced that the electronic version of an afternoon newspaper she is heading will be launched July 1, according to a Taipei Times report.

Lu said that the paper, named the Formosa Post (Telegraph) in English and Yushan Wubao in Chinese, would start online due the financial difficulty of launching in print.

Lu added that she planned to establish a company on March 22 for the publication and hoped to raise NT$600 million (US$17.39 million).

Once the paper is online, the next step will be to launch the weekend print edition, called the Formosa Post Weekly, Lu said. The weekend edition is scheduled to hit the shelves on August 1, she said, and the target for the paper is 50,000 subscribers.

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