TVB chair Chan Kwok-keung quits

Television Broadcasts (0511) said chairman Dr. Charles Chan Kwok-keung has resigned effective February 4, following an agreement to sell his shareholding interests in Young Lion Holdings, as part of a proposed reorganisation of the ownership interests among the shareholders of YLH.

The proposed transactions are subject to the approval of the Communications Authority, the company said. Once the tansactions are completed, Dr Chan will cease to be interested in any shares in the company, TVB said.