After the disposal to Stellar Media Group, the company is reportedly being converted to a joint venture Sun Media co-chairman Bruno Wu Zheng declined to comment on a report that his company will sell a 70 per cent stake in Sun Satellite Television Channel (Sun TV) to a mainland media company. The Xinhua News Agency reported at the weekend that former mainland anchor Yang Lan, also Sun Media chairwoman and the wife of Mr Wu, will sell a controlling 70 per cent stake in the company to Stellar Media Group for 80 million yuan (HK$75.2 million). Neither Ms Yang nor Stellar could be reached for comment. 'I can neither confirm nor deny the report,' Mr Wu said when contacted yesterday. The report said that after the sale, Stellar and Sun Media will run Sun TV as a 70:30 joint venture. Ms Yang will reportedly remain the head of the company and will continue to be in charge of its programming. While Stellar will guarantee Sun TV's capital investment and advertising revenue, Sun Media will retain its TV production and distribution teams at Sun TV, the report said. Sun Media will also be responsible for producing an unspecified amount of programmes. Sun TV's prime programmes, including Interview with Yang Lan and Hundred Years of Love and Marriage, will continue to air during prime time. Other programmes, including those produced by Stellar, will fill other slots. It is not certain how the new alliance, if confirmed, will affect Sun TV's landing rights in China. Sun TV temporarily lost its mainland landing rights after Sun Media formed a production joint venture with Taiwanese Eastern Broadcasting (ETTV) in March. According to Sun TV, the State Administration of Radio, film and Television (Sarft) ruled that the alliance with the Taiwanese broadcaster 'violated relevant regulations for content composition and violated [Sun TV's] restricted landing licence agreement'. Sun TV's landing rights were reinstated on April 30 after Sun Media scrapped the joint venture with EETV. 'The resumption was made on the understanding reached with Sarft in early April 2003 that Sun TV will not broadcast programmes from Eastern Broadcasting Company ... until further notice,' Sun Media said in an announcement earlier this month. The assets of Sun TV likely to be sold to Stellar amount to about 5 per cent of Sun Media's total assets. The turnover of that part of the business contributed 20 per cent of the sale of the entire group, the report said.