Television Broadcasts Reaches License Deal With Music Group
Television Broadcasts Ltd. (511), operator of Hong Kong’s biggest TV station, said it reached a license deal with a group representing music companies, including Sony Corp. (6758) and EMI Group Ltd., resolving a dispute on copyright fees.
The agreement with the Hong Kong Recording Industry Alliance Ltd. covers the use of music and videos and will run to 2014, Television Broadcasts said in an e-mailed statement today. “The parties are delighted that the long dispute has come to an end,” it said.
Television Broadcasts fell 0.4 percent to HK$45.40 in Hong Kong trading yesterday and has gained 8 percent this year, outperforming the 20 percent decline in the city’s benchmark Hang Seng Index.
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