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Carlyle looks to exit for Taiwanese TV company Eastern Broadcasting

9 Jan 2014

Global private equity investor Carlyle Group has received a bid for its 61 percent stake in Taiwanese TV company Eastern Broadcasting from Eastern Media International Corp.

However, the bid is at a valuation “substantially below” Carlyle’s expectations, according to Reuters.

Eastern Broadcasting is one of Taiwan’s largest television programmer and channel operators. It directly owns eight domestic Taiwan CATV channels covering general news, financial news, variety, Chinese movie, foreign movie, drama and children. EBC’s content is distributed to nearly all CATV subscribers in Taiwan.

The firm is eager to exit the company and the sector due to issues with regulators, the report said. Carlyle invested in the company back in 2006 via its Carlyle Asia Partners II vehicle and first sought an exit last year, valuing its stake at around $700m. Eastern Media is said to be offering closer to $240m.

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