TVB, the major HK broadcaster, changes its ownership

1 April 2011 17 h 50 min 12 comments

Hong Kong, – Television Broadcasts Limited (“TVB”) is pleased to announce its change in shareholding on 31 March 2011.

The company can also announce that;

. the transaction involving the sale of entire shareholding in Shaw Brothers (Hong Kong) Limited to an investor group comprising Dr Charles Chan Kwok Keung, Madam Cher Wang and Providence Equity Partners LLC has been duly completed. Following the completion, the investor group has acquired 26% issued share capital of TVB. TVB has obtained the approval from the Broadcasting Authority in relation to such change in shareholding of TVB;
. The Shaw Foundation Hong Kong Limited has donated a portion of its shares in TVB (totaling 2.59% of TVB’s issued share capital) to various education and charitable institutions in Hong Kong. TVB has sent in its application to the Broadcasting Authority today for approval of change in shareholding arising from such donation.
. The Shaw Foundation Hong Kong Limited and Madam Fong now hold a total of approximately 3.9% issued share capital of TVB.

The Board of TVB has appointed Dr Charles Chan Kwok Keung, Madam Cher Wang and Mr Jonathan Milton Nelson of Providence Equity Partners LLC as Non-executive Directors of the Company effective 1 April 2011.

TVB will undoubtedly benefit from their experience and business acumen. With such a solid team on board, together with the strong and effective leadership of TVB’s current management (including Chairman, Executive Deputy Chairman, Deputy Chairperson and Managing Director, Group General Manager and other General Managers) which will continue to lead the Company, TVB will grow from strength to strength.

. Dr Charles Chan, aged 56, is a well known entrepreneur, with diversified businesses in Hong Kong, Mainland China and other parts of the world. He holds an Honorary degree of Doctor of Laws and Bachelor’s degree in Civil Engineering and has over 30 years’ international corporate management experience in the construction and property sectors, as well as in strategic investments. These diversified experiences of Dr Chan would not only give TVB valuable guidance in its business development in future but also help TVB reach its full potential. Dr Chan is currently the chairman and executive director of ITC Corporation Limited (“ITC”) and a non-executive director of PYI Corporation Limited (“PYI”). Both are listed companies in Hong Kong.

. Madam Cher Wang, aged 52, has established a number of highly successful IT-related businesses. Her business achievements have been widely acclaimed in major international media. She is currently chairman of three Taiwan-listed companies, and on the board of directors of or advisor to numerous other companies. She founded VIA Technologies, Inc. in 1987, and is also founder and chairman of HTC Corp., established in 1997, a multi-billion dollar global company that develops the most innovative smart phones on the market. In 2005, she was selected as an Innovator in the 2005 Stars of Asia: 25 Leaders on the Forefront of Change by Business Week and was named as one of the ten executives to watch in Asia. Her outstanding and successful experiences and invaluable technological background will no doubt be a powerful driving force to move the Company forward to new heights.

. Mr Jonathan Milton Nelson, aged 54, is the chief executive officer and founder of Providence Equity Partners LLC (“Providence”), a private equity firm that manages approximately US$22 billion of committed capital and specializes in equity investments in media, communications and information companies in North America, Europe and Asia. He founded Providence in 1989 and has been investing in private equity transactions for 27 years, focusing on media, telecom, and entertainment. He serves on the board of many renowned public companies as well as numerous privately-held companies. Mr Nelson received a Master of Business Administration from the Harvard Business School in 1983 and a Bachelor of Arts from Brown University in 1977. His extensive network in various diverse fields will definitely take the Company’s business to a new dimension on a global scale.

Riding on the relevant experiences, excellent technological background of the new investors in the field of new media and international media business, it will no doubt complement TVB’s conventional television broadcasting business and lead the Company from strength to strength. The Company is confident that the synergy effect will not only be beneficial to its future diversified development but also for the well being of the media industry of Hong Kong as a whole.

SOURCE: TVB, 31/03/2011

Related posts:

Leave a Reply

You must be logged in to post a comment.

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →