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TPG to Acquire Twenty-First Century Fox, Inc's Stake In Phoenix Satellite Television Holdings Limited


Friday, 18 Oct 2013 11:15am EDT 

TPG, one of the private investment firms, and Twenty-First Century Fox, Inc (21CF)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). Upon completion of the sale, 21CF will no longer hold an equity interest in Phoenix and its representatives will step down from the board.