HONG KONG: Television Broadcasts Ltd (TVB), the larger of Hong Kong’s two free-to-air broadcasters, has sold a 51% stake in its Galaxy pay-TV project to US satellite operator Intelsat Ltd for HK$542mil or US$69mil.
The deal values the Galaxy project, which will be launched in 12 months, at over US$136mil, according to a joint statement from the two companies yesterday.
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