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TVB pays $27.5 mil for Pay


July 06, 2009 Television Broadcasts, Hong Kong's leading commercial broadcaster, will pay HK$213 million ($27.5 million) for 31% of TVB Pay Vision, a loss-making pay-TV platform. A restructuring in 2008 subsequently cut TVB's voting control of TVB Pay to just 15%, allowing the free-to-air broadcaster to escape firewall conditions previously imposed on it by the sector regulator, the Broadcasting Authority. TVB Pay distributes 43 channels including eight TVB-branded specialty channels, as a direct-to-home satellite service.

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