TVB shareholding changes approved

November 30, 2011

The Broadcasting Authority has approved TVB's (Television Broadcasts Limited) application to change its shareholding structure.
 
The change took effect on November 23. It arose from the restructuring of the intermediate companies controlled by Charles Chan, who is the voting controller of 26% of TVB shares.
 
The application involves a change of direct shareholder of TVB from Shaw Brothers (Hong Kong) to new company Shaw Brothers Limited, and adding a voting controller layer, namely Innovative View Holdings, in the shareholding structure. The ultimate voting controller of the TVB shares and the existing directors of TVB remain unchanged.
 
In approving the application, the authority said it is satisfied the change will not cause regulatory concerns and that TVB will continue to comply with its licence and applicable regulatory requirements under the Broadcasting Ordinance.