Co. owns a key stake in Television Broadcasts
HONG KONG — Veteran film mogul Run Run Shaw may take his iconic company Shaw Brothers back into private ownership.
Possible move was announced Monday after trading in the company’s shares was suspended on the Hong Kong Stock Exchange.
Shaw, 101, started talks to sell his 75% interest in the company to Chinese businessman Yeung Kwok-keung in May. But the sale was one of Asian media’s highest profile casualties of the credit crunch and was abandoned in October (Daily Variety, Oct. 15).
Shaw Bros. now has few of the film interests that made it worthy of a tribute in Quentin Tarantino’s “Kill Bill,” but it owns a key stake in Television Broadcasts, Hong Kong’s leading TV firm, and is one of the world’s biggest owners of Chinese content.
Last week Shaw’s wife Mona Fong, 77, was appointed managing director of TVB, effective in January (Daily Variety, Dec 11).
Shaw Bros. gave no indication of when a privatization offer might be issued.