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television broadcasts ltd (511) Details

Television Broadcasts Limited, together with its subsidiaries, engages in terrestrial television broadcasting, program production, and other television related activities. It operates in six segments: Hong Kong TV Broadcasting, Hong Kong Digital Media Business, Program Licensing and Distribution, Overseas Pay TV Operations, Channel Operations, and Other Activities. The Hong Kong TV Broadcasting segment is involved in the broadcasting of television programs on terrestrial TV platform; broadcasting of commercials on terrestrial and pay TV platforms; and production of programs. The Hong Kong Digital Media Business is involved in the provision of contents to mobile devices and Website portals. The Program Licensing and Distribution segment distributes television programs and channels to telecast, video, and media operators. The Overseas Pay TV Operations segment provides pay television services to subscribers in the United States, Europe, and Australia. The Channel Operations segment is involved in the compilation and distribution of television channels in Mainland China, Malaysia, Singapore, and other countries. The Other Activities segment engages in the publication of magazines; and provision of music entertainment, property investment, and other related services. The company also offers agency services on advertisements, television programs, and film rights; provides consultancy, management, and agency services to artistes; and produces, publishes, and licenses musical works and sound recordings, as well as offers computer graphics/animations production services. In addition, it produces motion pictures for theatrical release and distribution; provides satellite and subscription television programs; operates Internet Web portal; and licenses and distributes films. Television Broadcasts Limited was founded in 1967 and is headquartered in Kowloon, Hong Kong.

4,221 Employees
Last Reported Date: 04/19/16
Founded in 1967

television broadcasts ltd (511) Top Compensated Officers

Group Chief Executive Officer, Executive Dire...
Total Annual Compensation: $8.5M
General Manager of Broad Casting, Executive D...
Total Annual Compensation: $6.4M
Compensation as of Fiscal Year 2015.
television broadcasts ltd
Television Broadcasts Will Unveil Takeover Details By Next Week

Television Broadcasts Limited (SEHK:511) revised its HKD 4.21 billion stock buyback plan, raising the per share price by 15% to HKD 35.075 to thwart TLG's bid. Alex Chow, Founder and Chief Executive Officer commented "The revision won't be enough of a deterrent because it's still below the network's fair value. We will persevere with the plan, because our backers agree with our assessment that TVB has a great franchise, and is on the cusp of something great." TLG Movie & Entertainment Group will publicise the details of its offer by the end of next week.

TLG Plans To Acquire Stake In TVB

TLG Movie and Entertainment Group Limited announced on February 9, 2017 that it planned to acquire a 29.9% stake in Television Broadcasts Limited (SEHK:511) (TVB) to become the single largest shareholder of TVB.

Television Broadcasts Limited Provides Earnings Guidance for the Year Ending December 31, 2016

The Board of Television Broadcasts Limited expects profit attributable to equity holders of the company for the year ending 31 December 2016 to decrease by approximately 55% to 65% when compared to the year ended 31 December 2015 for the following major reasons: Owing to a prolonged economic downturn in Hong Kong since the last quarter of 2014, the advertising market has remained weak throughout the year to date which adversely affected the Group's revenue under the Hong Kong TV broadcasting segment. Due to the relatively fixed cost structure of this business segment, the expected drop of revenue on a year-on-year basis of close to HKD 400 million, representing a decrease of approximately 13%, will directly impact the segment profit for the year ending 31 December 2016; The broadcast of the Rio 2016 Olympic Games on TVB's channels contributed to an under-recovery of costs of approximately HKD 150 million (which is in line with the estimation made in the announcements dated 23 March 2016 and 24 August 2016). As of 4 December 2016, the number of users of myTV SUPER service via set-top boxes and mobile apps has exceeded 2,000,000, which is substantially better than the previously estimated target of 1,400,000 users by November 2017. Due to the better than anticipated business progress, the start-up loss under myTV SUPER OTT service for the period from launch on 18 April 2016 to 31 December 2016 is estimated to decrease from approximately HKD 100 million to approximately HKD 50 million. In 2015, exceptional items arising from the disposal of 53% equity interest in Liann Yee Production Co. Ltd. ("Liann Yee"), the Taiwan operations; the impairment on loans to and amounts due from an associate TVB Network Vision Limited, the operator of the Group's Hong Kong pay TV business; and other items had resulted in a net exceptional gain of HKD 410 million. In 2016, exceptional items arising from the disposal of the remaining 47% equity interest in Liann Yee, and the disposal of the property interest in Neihu District of Taipei City, resulted in a net gain of HKD 292 million only.

 

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Valuation 511 Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.3x
Price/Book 1.9x
Price/Cash Flow 11.2x
TEV/Sales 2.6x
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