Television Broadcasts, Hong Kong’s leading free-to-air broadcaster, has said that it is considering legal action against a group of shareholder activists. The shareholder group, seemingly led by Ch…
’s leading free-to-air broadcaster, has said that it is considering legal action against a group of shareholder activists.
The activists have also called for the replacement of six members of the board of directors, including. Li heads Mainland Chinese media investment firm CMC, which is the largest single shareholder in TVB. TVB has blamed the pandemic for many of its woes and says that it is now on a growth track. Other commentators have blamed competition from successful local digital competitors, weak programming and a business model that retains some 500 artistes on its payroll who play dual roles as performers and consumer goods marketeers.
Part of the 2022 deficit was a HK$212 million non-cash provision against its investment in Imagine Tiger, a company jointly owned with Ron Howard and Brian Grazer’s Imagine Television.
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