ATV stake sale at talking stage with Guangdong buyer

Chan Wing-kee, chief executive of Hong Kong's Asia Television (ATV), said the company was in talks to sell a stake, put at under 10%, to an unnamed Guangdong entity. Chan said nothing substantive had been agreed to date. The South China Morning Post had earlier reported that Guangdong government-backed Southern Broadcasting Media Group would buy a 10% stake in the free-to-air broadcaster for RMB 200 million (US$24.01 million).