A connected Thai entertainment mogul has dropped his attempt to gain control of Matichon, one of Thailand's major daily newspapers.

An excerpt from the BBC story:

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.

His takeover bid, announced earlier this week, had set off an outcry in Thailand, with many believing that it was a thinly concealed attempt by the prime minister to curtail criticism of his government.