TPG to Acquire 21st Century Fox’s Stake in Phoenix Satellite Television Holdings Limited

  TPG to Acquire 21st Century Fox’s Stake in Phoenix Satellite Television
  Holdings Limited

Business Wire

HONG KONG -- October 18, 2013

TPG, one of the world’s leading private investment firms, and 21st Century Fox
(“21CF”)(NASDAQ:FOX) today announced that they have entered into a definitive
agreement, pursuant to which TPG agreed to acquire the remaining 12.15% stake
held by 21CF’s wholly owned subsidiary Star Entertainment Holdings Limited in
Phoenix Satellite Television Holdings Limited (“Phoenix TV”)(02008.HK).

Upon completion of the sale, 21CF will no longer hold an equity interest in
Phoenix and its representatives will step down from the board.

About TPG

TPG is a leading global private investment firm founded in 1992 with $55.3
billion of assets under management and offices in San Francisco, Fort Worth,
Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow,
Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. TPG has
extensive experience with global public and private investments executed
through leveraged buyouts, recapitalizations, spinouts, growth investments,
joint ventures and restructurings. The firm’s investments span a variety of
industries including financial services, travel and entertainment, technology,
energy, industrials, retail, consumer, real estate, media and communications,
and healthcare. TPG’s past and present investments in China include China
Grand Auto, China International Capital Corporation, Daphne, Lenovo, Shenzhen
Development Bank (currently Ping An Bank), Wumart, Li Ning, HCP Holdings and
Xinyuan Real Estate. For more information, please visit

About 21st Century Fox

21st Century Fox is the world's premier portfolio of cable, broadcast, film,
pay TV and satellite assets spanning six continents across the globe. Reaching
nearly 1.5 billion subscribers in more than 100 local languages every day,
21st Century Fox is home to a global portfolio of cable and broadcasting
networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel,
Fox Business Network, Fox Sports, Fox Sports Network, National Geographic
Channels, MundoFox, STAR and 28 local television stations; film studio
Twentieth Century Fox Film; and television production studios Twentieth
Century Fox Television and Shine Group. The Company also provides premium
content to millions of subscribers through its pay-television services in
Europe and Asia, including Sky Deutschland, Sky Italia and its equity
interests in BSkyB and Tata Sky. For more information about 21st Century Fox,
please visit

About Phoenix Satellite Television Holdings Limited

Phoenix Chinese Channel was launched on 31 March 1996, with the aim of
offering quality content to Chinese communities around the world. The dynamism
of this massive market, combined with successful expansion strategies, has
enabled Phoenix to develop a comprehensive multi-dimensional media platform
which now includes a Cantonese television services. Today, Phoenix Chinese
Channel, Phoenix Movies Channel, Phoenix InfoNews Channel, Phoenix Chinese
News and Entertainment Channel, Phoenix North America Chinese Channel and
Phoenix Hong Kong Channel together broadcast to audiences in the Asia Pacific,
Europe, Americas, Africa, the Middle East, Australia and New Zealand, covering
more than 180 countries and regions.

Apart from its core television broadcasting business, Phoenix has developed
new areas of businesses such as new media, outdoor media/advertising, digital
audio radio broadcasting and publishing.

Phoenix Satellite Television Holdings Limited is listed on the Main Board of
The Stock Exchange of Hong Kong Limited (Stock Code: 02008). Phoenix New Media
Limited, an indirect non-wholly owned subsidiary of the Group, is listed on
the New York Stock Exchange (“NYSE”)(NYSE:FENG).


Brunswick Group Limited
Joseph Lo, +852-3512-5000
Siobhan Zheng, +852-3512-5000
Vanessa Gourlay, +852-3512-5000
21st Century Fox
Jannie Poon, +852-2621-8619
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