Japanese Investor in Talks to Take Stake in TV3
Japan’s TriAsia Group is in talks to acquire a majority stake in local television station TV3 and plans to broadcast Japanese-language shows, the television channel’s owner confirmed Wednesday. According to TV3’s owner, Khampun Keomony, revenues at the channel have been dropping, which prompted him to look for new investment. “We perhaps keep 20 percent… and give them an 80 percent share,” Mr. Keomony said. “We can say our income dropped by 80 percent…. If we don’t beef up our capital, we will not move forward because there are so many [TV] stations in our country now,” he added. The stake in TV3 would be TriAsia’s second investment in Cambodia. Its first was the establishment of the Kiriya coffee shop chain in Phnom Penh’s Boeng Keng Kang I commune last year. … TriAsia CEO Yokoi Tomoyuki wrote on his personal blog on Friday that the firm had signed a deal to obtain 80 percent of TV3. However, the blog post was removed from the website after a reporter inquired about the investment. … When the deal will go through is currently up in the air because the Phnom Penh Municipality owns part of the television channel and any agreement to sell a majority stake would need approval from City Hall, said its spokesman, Long Dimanche. …
Hul Reaksmey and Joshua Wilwohl
http://www.cambodiadaily.com/business/japanese-investor-in-talks-to-take-stake-in-tv3-41707/
