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country garden

May 27, 2008

Yeung Kwok-Keung, chairman of property firm Country Garden and patriach of one of China’s richest families, has reportedly bought a stake in Television Broadcasts, one of the world’s largest producers of Chinese-language television programming.

Yeung Kwok-Keung, chairman of property firm Country Garden and patriach of one of China's richest families, has reportedly bought a stake in Television Broadcasts, one of the world's largest producers of Chinese-language television programming. Yeung (pictured) appears to have acquired a 26% stake for around $1.3 billion from Shaw Brothers' 100-year-old chairman Sir Run Run Shaw .

Founded in 1967, TVB was the first wireless free-to-air commercial television broadcaster in Hong Kong. It is believed Yeung was the only investor who met Shaw's criteria and price for the stake.

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