Taiwan's Eastern Media International bids for Carlyle's controlling stake in Eastern Broadcasting

By VCPOST Staff Reporter

Jan 08, 2014 02:22 AM EST

Taiwan's Eastern Media International Corp. is reportedly bidding to buy Carlyle Group LP's entire 61% stake in local TV company Eastern Broadcasting Co. The said stake is worth around $240 million.

Sources told Reuters on Wednesday that American private equity firm Carlyle is expected to make a decision on the bid by the end of the month.

Bloomberg in a previous report said that Carlyle built a majority holding in Eastern Broadcasting after acquiring parent company Eastern Multimedia Co. in a $1.5 billion deal in 2006. The Eastern Multimedia takeover was the largest-ever buyout deal in Asia excluding Japan at the time.

Eastern Broadcasting is the largest broadcasting company in Taiwan. It currently owns eight domestic channels in the country, including two news channels, the report said.

Eastern Media International, a warehousing service provider, presently owns 30% of the shares of Eastern Broadcasting. It is the Taiwanese broadcasting company's second largest shareholder next to Carlyle, Reuters said.  

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