BBC Chinese recently reported that U.S. based DMG Group made an investment of US$600 million as the last step in acquiring the Taiwan based Eastern Broadcasting Co., Ltd. (EBC). Combined with earlier investments, DMG now owns over eighty percent of the EBC stock. EBC is one of the most influential cable and satellite TV companies in Taiwan. In 1993, U.S. citizen Dan Mintz and two Chinese citizens, Xiao Wenge and Wu Bing, founded the DMG Group. Xiao’s father is a former general in the Chinese Army. The first movie DMG invested in was named “Founding of the Republic.” The Chinese government officially backed the movie as a means of celebrating its 60th National Day. Current Taiwanese laws do not allow Mainland China to invest in the Taiwanese satellite and broadcasting industry. The DMG acquisition triggered a heated debate in Taiwan on the background of this deal. The deal still requires approval from two Taiwanese regulatory authorities: the Investment Commission of the Ministry of Economic Affairs, as well as the National Communications Commission (NCC). EBC expects the deal can be completed in Spring 2016.
Source: BBC Chinese, December 11, 2015