HONG KONG: The chief executive of Asia Television (ATV) is reportedly in talks to sell part of his stake in the company to several investors, including Japan’s Dentsu group.
Chan Wing Kee’s pending purchase of 32.75% of Hong Kong’s No. 2 broadcaster from debt-laden Lai Sun Development Co Ltd for HK$360mil would bring his stake in the company to just under 50%. He is now looking for partners to help finance the acquisition, according to the South China Morning Post (SCMP). A spokesman for ATV said the company had no comment on the issue. But the SCMP quoted Chan as saying he was in discussions with “more than one important player in the media industry” and that Dentsu was one of those parties. – Reuters
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