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The following is issued on behalf of the Communications Authority:
The Communications Authority (CA) has approved the application of Television Broadcasts Limited (TVB) for changes in its shareholding structure arising from the disposal of shares in Young Lion Holdings Limited (YLH), which indirectly holds 26 per cent of the voting shares of TVB via its wholly owned subsidiaries, by P6 YL Holdings Limited to other shareholders of YLH. The ultimate and other intermediary 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 today (June 7).
In approving the application, the CA is satisfied that the shareholding changes will not give rise to regulatory concerns, and that TVB will continue to comply with the applicable regulatory requirements under the Broadcasting Ordinance (Cap. 562) and its licence and be able to honour the investment and programming commitments it has already made under its domestic free television programme service licence upon completion of the shareholding changes.
Ends/Tuesday, June 7, 2016
Issued at HKT 18:05
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