HONG KONG, Feb. 14, 2011 /PRNewswire-Asia/ --
EQT Greater China II ("EQT Greater China") has acquired Gala TV ("GTV" or the "Company"), with CEO Mr. Lin Poa-Chuan as co-investor. GTV is one of Taiwan's leading TV channel operators with four own channels. These channels are carried by all major cable operators broadcasting them to Taiwanese cable TV subscribers.
GTV offers a mixture of in-house produced, commissioned, and acquired content. The Company was established in 1997 and has over the years produced and accumulated a library of many popular Chinese-language TV programs. GTV has a strong market position in Taiwan with leading viewership shares. GTV-Drama is the prime drama channel in Taiwan while GTV-One and GTV-Variety are among the leaders in the variety genre.
"GTV has a strong market position with leading viewership shares and unique strengths in drama. We look forward to working together with GTV's experienced management in developing the business further. EQT's previous experiences with new media platforms and digital channels will also be leveraged to further develop GTV," says Fredrik Atting, Senior Partner of EQT Partners in Hong Kong, investment advisor to EQT Greater China II.
Overseas distribution of idol drama also holds strong prospects on the back of promising markets such as China and South East Asia where the demand for quality Chinese-language drama is high. Under the leadership of the current management team, together with the support of EQT, GTV aims to further expand its business and position itself as a leading Chinese language TV channel operator in the international arena.
The Taiwanese economy as a whole shows strong development and the local cable TV advertising market grew by 26%, from NT$6.2 billion in 1H 2009 to NT$ 7.8 billion in 1H 2010. TV, and cable TV in particular, is the dominant advertising platform in Taiwan and has proven more resilient to adverse economic conditions than other, traditional platforms such as magazines and newspapers.
The EQT Industrial Network has several Industrial Advisors with extensive experience from the media and entertainment business who will be working with GTV to develop the business even further.
About EQT
EQT is the leading private equity group in Northern Europe with more than EUR 13 billion in raised capital and multiple investment strategies. Together with a superior network of Industrial Advisors, EQT implements its business concept by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, developing them into leading companies. Development is achieved by applying an industrial strategy with focus on growth. Since inception, EQT has invested EUR 9.7 billion in more than 85 companies. EQT-owned companies have more than 500,000 employees.
EQT Greater China makes control or co-control investments in high-quality market leading, medium-sized companies in attractive industries in Asia with a potential for top-line growth.
EQT Partners, acting as investment advisor to the managers of each EQT fund, has more than 100 investment professionals with an extensive industrial and financial competence. EQT Partners has offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
Contacts: | EQT Partners, investment advisor to EQT Greater China II Fredrik Atting, Senior Partner Hong Kong, +852-2971-5810 Johan Hahnel, Communications & PR, +46-8-506-55-334 |