Caixin
Oct 27, 2016 06:05 PM
BUSINESS

Li Ka-shing Company to Tune Out Satellite TV Channel

(Hong Kong) — A media group backed by Hong Kong billionaire Li Ka-shing will shut down its Mandarin-language satellite channel by the end of this year as the company shifts its focus to technology sectors amid a downturn in advertising.

Tom Group Ltd., the media conglomerate controlled by the business tycoon, announced the closure of China Entertainment Television Broadcast Ltd. (CETV) in a filing to the Hong Kong Stock Exchange on Wednesday. At that time, Tom Group owned nearly 100 percent of CETV's shares.

loadingImg
You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code