The latest sales of shares of pro-Beijing Phoenix TV suggest that Beijing is accelerating its pace in taking full control of Hong Kong’s media outlets.
On April 17, Phoenix TV announced that its founder Liu Changle, also its former chairman and major shareholder, had sold almost all his stake in the company, namely 37.93 percent of the total, including 21 percent (equivalent to $82.4 million) to Bauhinia Culture Holdings Limited and 16.93 percent (equivalent to $66.4 million) to Shun Tak Holdings.
