HK: TVB plans pay-TV sale as profits increase
Television Broadcasts (TVB) plans to sell a 20% stake in its paybox TVB Pay Vision to an unnamed strategic investor.
The territory’s leading free-to-air broadcaster currently owns 49% of the loss-making paybox. The deal—which is still subject to approval by the Broadcasting Authority--is to sell the stake to the investor for HK$140 million (US $17.9 million,) according to the company.
When the deal goes through, TVB will hold 29%, while Charles Chan Kwok-keung’s See Corp. will continue to hold 51%.
Television Broadcasts (TVB) plans to sell a 20% stake in its paybox TVB Pay Vision to an unnamed strategic investor.
The territory’s leading free-to-air broadcaster currently owns 49% of the loss-making paybox. The deal—which is still subject to approval by the Broadcasting Authority--is to sell the stake to the investor for HK$140 million (US $17.9 million,) according to the company.
When the deal goes through, TVB will hold 29%, while Charles Chan Kwok-keung’s See Corp. will continue to hold 51%.
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