Sep 27, 2010

Shanghai Media Group looks to buy stake in TVB

SHANGHAI – Shanghai Media Group (SMG), one of the largest media groups in China, has express interest in buying a stake in Hong Kong’s Television Broadcasts Limited (TVB).

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Shanghai Media Group looks to buy stake in TVB

According to Xinhua News Agency, SMG has approached TVB's managing director Mona Fong with a HK$10 billion offer through its Shanghai Culture Development Foundation.

The two television giants have been in close cooperation for a couple of years. Last year, the two co-produced TV drama Growing through life, which received good a response after being shown in Hong Kong and the mainland.

According to Hong Kong media reports, Hong Kong tycoon Lee Siu-kei is also actively looking to buy at least 26 per cent of TVB with HK$92 billion.

Source:

Campaign China

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