Media News
Staff Reporters
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).

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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