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The following is issued on behalf of the Communications Authority:
The Communications Authority (CA) has approved the application for changes in the shareholding structure of Television Broadcasts Limited (TVB) arising from the transfer of certain shares in Young Lion Holdings Limited, which indirectly holds 26 per cent of the voting shares of TVB via its wholly owned subsidiaries, from its existing shareholders to CMC M&E Acquisition Co Ltd. Notwithstanding the changes in TVB's shareholding structure, the ultimate and other intermediate voting controllers of TVB's voting shares remain unchanged. Dr Charles Chan Kwok-keung will remain the ultimate voting controller of 26 per cent of TVB's voting shares. The changes in the shareholding structure of TVB took effect upon completion of the relevant transaction on April 22, 2015.
In approving the application, the CA was satisfied that the shareholding change would not give rise to regulatory concerns and that TVB would continue to comply with various applicable regulatory requirements under the Broadcasting Ordinance (Cap. 562) and its licence and be able to honour the investment and programming commitments it had already made under its domestic free television programme service licence upon completion of the shareholding changes.
Ends/Wednesday, April 22, 2015
Issued at HKT 16:30
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