Taiwan News
Date: 2016-07-27
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Eastern Media International Corporation was canceling the
DMG Entertainment chief Dan Mintz.
planned sale of its stake in television group Eastern Broadcasting Company to China-affiliated DMG Entertainment because the prospective buyer wanted to reduce the price, reports said Wednesday.
Last December, Eastern Media announced it was planning to sell its stake of 21.32 percent in EBC for about US$600 million (NT$18.3 billion) to EBC Acquisition, a firm set up in the Cayman Islands by DMG chief Dan Mintz.
At the same time, EBC majority stakeholder, the Carlyle Group from the United States, was going to sell its 60-percent share to DMG for another US$600 million, reports said. [FULL STORY]