Sir Run Run Shaw sells control of Hong Kong’s TVB

Sir Run Run Shaw,  founder of Hong Kong’s television station TVB, has sold control of the business.

Shaw has signed an agreement to sell his 26% stake in Shaw Brothers to an investment group controlled by Hong Kong business man Charles Chan, Taiwanese business women Cher Wang and Providence Equity Partners. The deal is expected to be completed on or before March 31.

Shaw will also sell a portion of the 6.3% he owns of TVB through his charity, The Shaw Foundation Hong KongShaw will remain as chairman, Cher Wang and Thomas Nelson, CEO of Providence Equity Partners, will join the board.

Hong Kong

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