12 Jan, 2016 – Hong Kong broadcaster TVB will devote more resources on tackling rising competition at home as well as growth opportunities in mainland China, after announcing a sale of its remaining 47% tranche in its Taiwanese pay-TV business.
The deal, priced at just over HK$1 billion (~US$133 million/NT$4.3 billion), follows TVB’s first move to reduce its holdings in Taiwan, after first selling 53% of its cable network to three Taiwanese investment groups, Lim Mao, De En and Lien, in the first half of last year.
Pending regulatory approval, the three shareholders will also acquire the remaining 47% stake, becoming outright owners of an operation that includes production facilities and three pay-TV channels: infotainment offering TVBS; TVBS News, a leader in the news segment; and TVBS Entertainment.
Read more at Media Business Asia