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The following is issued on behalf of the Broadcasting Authority:
The Broadcasting Authority (BA) approved the application of Television Broadcasts Limited (TVB) for a change in its shareholding structure arising from the restructuring of the intermediate companies controlled by Dr Charles Chan Kwok-keung, who is the voting controller of 26 per cent of TVB shares. The application involves a change of direct shareholder of TVB from Shaw Brothers (Hong Kong) Limited to a new company, Shaw Brothers Limited, and adding a voting controller layer, namely Innovative View Holdings Limited, in the shareholding structure. The ultimate voting controller of the TVB shares and the existing directors of TVB remain unchanged. The shareholding change took effect on November 23.
In approving the application, the BA was satisfied that the shareholding change would not give rise to regulatory concerns and that TVB will continue to comply with its licence and applicable regulatory requirements under the Broadcasting Ordinance (Cap. 562).
Ends/Wednesday, November 30, 2011
Issued at HKT 16:08
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