By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – The National Communications Commission on
Wednesday approved changes in the shareholding structure of cable television group TVBS, signaling a move from Hong Kong to Taiwanese ownership.
Media reports that the change amounted to a takeover by HTC Corporation Chairwoman Cher Wang were not confirmed however. The deal still has to be reviewed by the Investment Commission at the Ministry of Economic Affairs.
The NCC concluded Wednesday that the changes in shares did not violate any rules regarding media monopolies or Chinese stakes in local media.
TVBS announced on January 4 that three Taiwanese shareholders already in control of 53 percent would buy the remaining 47 percent of shares for NT$4.3 billion (US$130 million) from Countless Entertainment, an affiliate of Hong Kong’s Television Broadcasts Ltd., or TVB.
Under the new shareholding structure, TVBS would become a completely Taiwanese media company, while reports also suggested that Wang might be the controlling owner of the TV station.
A daughter of late Formosa Plastics founder Y.C. Wang, she has made a mark as the chairwoman of global cellphone brand HTC. [SOURCE]