Television Broadcasts Satellite (TVBS), one of the nation’s cable television networks, yesterday announced that 47 percent of its shares previously owned by Countless Entertainment have been purchased by three current Taiwanese shareholders, which collectively own 53 percent of the company.
“The network would become fully owned by the Taiwanese nationals. The investors have indicated that they would keep the current management team and expand the network’s business around the world,” the company said in a statement, adding that it would soon send the purchase proposal to the Investment Commission and the National Communications Commission for approval.
The Taiwanese cable network was previously owned by Hong Kong television broadcaster Television Broadcasts Limited (TVB), which also made the announcement yesterday on its Web site.
Based on the information disclosed by the network’s previous owner in Hong Kong, the deal is valued at about NT$4.34 billion (US$130.58 million). TVB said in the statement that it would no longer hold shares in TVBS after the transaction, but that it would maintain ownership of the properties in Taiwan, including the TVBS buildings in Taipei’s Neihu District (內湖) and on Bade Road in Taipei.
The three Taiwanese shareholders were reported to be affiliated with HTC Corp Chairwoman Cher Wang (王雪紅), who owns an unspecified share in TVB.
In January last year, TVB sold TVB Investment Ltd (TVBI) and Countless Entertainment, two of its fully owned subsidiaries, to the three Taiwanese shareholders.
Countless then sold 53 percent of the shares it owned in Liann Yee Production Co, the Taiwanese firm that operates cable channels TVBS, TVBS News and TVBS Entertainment, to the three shareholders for about NT$4.69 billion.
A magnitude 6.4 earthquake struck off the coast of Hualien County in eastern Taiwan at 7pm yesterday, the Central Weather Administration (CWA) said. The epicenter of the temblor was at sea, about 69.9km south of Hualien County Hall, at a depth of 30.9km, it said. There were no immediate reports of damage resulting from the quake. The earthquake’s intensity, which gauges the actual effect of a temblor, was highest in Taitung County’s Changbin Township (長濱), where it measured 5 on Taiwan’s seven-tier intensity scale. The quake also measured an intensity of 4 in Hualien, Nantou, Chiayi, Yunlin, Changhua and Miaoli counties, as well as
Taiwan is to have nine extended holidays next year, led by a nine-day Lunar New Year break, the Cabinet announced yesterday. The nine-day Lunar New Year holiday next year matches the length of this year’s holiday, which featured six extended holidays. The increase in extended holidays is due to the Act on the Implementation of Commemorative and Festival Holidays (紀念日及節日實施條例), which was passed early last month with support from the opposition Chinese Nationalist Party (KMT) and Taiwan People’s Party. Under the new act, the day before Lunar New Year’s Eve is also a national holiday, and Labor Day would no longer be limited
COMMITMENTS: The company had a relatively low renewable ratio at 56 percent and did not have any goal to achieve 100 percent renewable energy, the report said Pegatron Corp ranked the lowest among five major final assembly suppliers in progressing toward Apple Inc’s commitment to be 100 percent carbon neutral by 2030, a Greenpeace East Asia report said yesterday. While Apple has set the goal of using 100 percent renewable energy across its entire business, supply chain and product lifecycle by 2030, carbon emissions from electronics manufacturing are rising globally due to increased energy consumption, it said. Given that carbon emissions from its supply chain accounted for more than half of its total emissions last year, Greenpeace East Asia evaluated the green transition performance of Apple’s five largest final
Taiwan is to extend its visa-waiver program for Philippine passport holders for another year, starting on Aug. 1, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said on Friday. Lin made the announcement during a reception in Taipei marking the 127th anniversary of Philippine independence and the 50th anniversary of the establishment of the Manila Economic and Cultural Office (MECO) in Taiwan, the Ministry of Foreign Affairs said. The decision reflected Taiwan’s commitment to deepening exchanges with the Philippines, the statement cited Lin as saying, adding that it was a key partner under the New Southbound Policy launched in 2016. Lin also expressed hope
RSS