Taiwan Optical Platform Co., a Taiwanese telecommunication service provider, plans to acquire a majority stake in Eastern Broadcasting Co., a local TV station controlled by the Carlyle Group, for NT$11.12 billion (US$351 million).
Taiwan Optical Platform says in a filing that it is hoping to transform itself into a 4K high-definition TV operator after the completion of the transaction.
Carlyle Group reached a deal to sell its 61% stake in the Taiwanese TV channel operator to U.S. film maker Dan Mintz's DMG Entertainment last December.
But two weeks ago, the Los Angeles-based DMG Entertainment walked away from the deal, which would have seen DMG Entertainment acquire an 80% stake in Eastern Broadcasting for US$600 million.
Under the new agreement, Taiwan Optical Platform would acquire a 61% interest from the Carlyle Group, as...
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