4
Broadcasting Authority approves of Pearson's acquisition
The Broadcasting Authority has approved an application by Pearson plc, a British company, for the acquisition of 10 per cent of the issued share capital of TVB.
"In approving the application, the Broadcasting Authority has taken. account of the fact that after the acquisition, Pearson, a company not ordinarily resident in Hong Kong, will have no significant influence or control over the affairs of TVB which will remain very substantially in the hands of persons who are ordinarily resident in Hong Kong," a spokesman for the Authority said.
Pearson is an international media group listed on the London Stock Exchange. According to information provided by Pearson to the Broadcasting Authority, its interests include the Financial Times, the Economist Group (50%), Thames Television, BSkyB (14.9%) and Yorkshire Tyne Tees Television (14%).
End/Friday, March 10, 1995
-
Broadcasting Authority to delete provisions
The Broadcasting Authority decided at its meeting yesterday (Thursday) to delete, from the television codes of practice, certain provisions which were no longer appropriate.