The majority shareholder of Fiji Television Limited, Fijian Holdings Limited, has revealed that it will sell its shares in Fiji TV if it results in the increase in returns for the FHL shareholders.
FHL Chief Executive Officer Nouzab Fareed said this is purely business and they do not get emotionally attached with any of their subsidiaries.
Fareed said with the planned sale of Fiji TV’s Media Niugini Limited in PNG, they are now closely watching the Fiji operation on whether it can deliver good returns to the FHL shareholders.
He said the PNG operation was making money for the Fiji operation.
Fareed said they will also consider divesting their shares in Fiji TV if a good offer comes their way.
The FHL CEO also said they are now closing watching the performance of the Fiji operation as everything should be based on good returns for the shareholders.
Meanwhile, Fiji TV Limited and Telikom PNG have signed a Memorandum of Undertaking which allows Telikom to go through Media Niugini in detail and make an offer.
Fiji TV Limited will then make a decision on whether it will accept the offer.
Fareed also said it is business as usual for Fiji TV and Sky Pacific subscribers as they will continue to improve their channel lineup.
He said there will be no interruptions to customer services.
FHL owns 61.1 percent of Fiji TV.
They bought 51 percent of the shares from Yasana Holdings for $25 million last year.
