Communications Authority approves shareholding change in investor group of TVB
(7 June 2016) Television Broadcasts Limited (TVB) announced today that the Communications Authority has approved a change of shareholding structure for Young Lion Holdings Limited (the investor group), which indirectly holds 26% of the outstanding shares of TVB.
Following the shareholding change,
- Dr Charles Chan will continue to be the voting controller and a member of the investor group;
- Providence Equity Partners will cease to be a member of the investor group;
- No new member was introduced to the investor group; and
- The investor group’s indirect share in TVB will remain unchanged at 26%.
Notwithstanding the shareholding change of the investor group, Dr Charles Chan will continue to act as chairman of the board of TVB, and TVB will continue to serve the Hong Kong viewers and develop in accordance with its established growth strategy.