Li, who has a vast array of corporate connections, is expected to help the broadcaster seize opportunities in China. But his elevation has also raised questions of growing mainland Chinese influence over Hong Kong’s media.
TVB and CMC are joint venture partners with Warner Bros. in Flagship Entertainment, a Hong Kong-domiciled, Beijing-based film company aimed at producing Chinese and global blockbuster films.
Li is also a non-executive director of advertising giant WPP and of IMAX China.
In a regulatory filing, TVB said that Li would be paid annual fees of US$28,400 (HK$220,000) as a non-executive director and an additional US$32,300 (HK$250,000) as vice chairman.
Hong Kong media freedom is guaranteed by local law, but expanding corporate ownership by Chinese corporations has sparked fears of erosion. Li is a director of Young Lion Acquisition and Shaw Brothers, two companies that control 26% of TVB shares.