Li TV becomes Star’s wholly-owned subsidiary
KUALA LUMPUR: Star Media Group Bhd has entered into an agreement to acquire the remaining 49% equity in Li TV Holdings Ltd from Juita Viden International Ltd for US$1.5mil (RM6.26mil).
Star said the acquisition turned Li TV into its wholly-owned subsidiary.
Li TV is an investment holding company incorporated in Hong Kong. Its subsidiaries are mainly engaged in the business of operating and distributing an English language lifestyle television channel ‘Life Inspired’ that broadcasts pan-regionally across Asia.
Star said the acquisition would not have any significant effect on its earnings or net assets per share for the financial year ending Dec 31, 2015.
None of the directors or major shareholders of Star, or persons connected with them, has any interest, direct or indirect, in the acquisition.
