The plan by Chinese media mogul Li Ruigang to tighten his grip on Hong Kong’s main free-to-air television broadcaster may be heading for a messy tussle, after TVB’s second-largest shareholder today declared its opposition to a HK$4.21 billion buyback proposal.
Television Broadcasts is at present Hong Kong's sole free television broadcaster. Established in 1967, it is one of the largest commercial Chinese programme producers in the world.
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