TS News - Pearson Sells TVB Stake
TELE-satellit News, 24 February 1997
Pearson Sells TVB Stake
HONG KONG, 97/02/24 (TS) -- London based Pearson, best known as
publishers of the Financial Times newspaper, has sold its 10 percent stake
in Hong Kong's Television Broadcasts (TVB) to Shaw Brothers (Hong Kong).
The British company bought the stake in in February 1995 for HK$31 per
share and sold the shares for HK$33.25 each.
Despite the sale in Hong Kong, Pearson said it remains committed to the
region and will continue its Indian joint venture with TVB, the Hindustan
Times, Carlton Communications and Schroders. The group launched Home TV in
India last year.
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