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TVNZ SELLS SHARES IN FIJI TV AUCKLAND: TVNZ has sold its 5% shareholding in Fiji Television. TVNZ's general manager of distribution and Fiji Television board member, Geoff Lawson, says TVNZ decided that once Fiji Television became financially viable and well established in the Fiji economy it would look to sell. A suitable offer of F$1.10 share for TVNZ's 5% stake (515,000 shares) has now been accepted. TVNZ was instrumental in the establishment of Fiji Television through the sale of equipment for setting up the Suva-based Fiji One television station and the subsequent development of the nation-wide transmission system. It received its 5% shareholding as part consideration for those services. TVNZ and Fiji Television also have commercial arrangements for the supply of programming and satellite delivery and TVNZ is keen to continue those commercial arrangements for the benefit of both companies. Mr Lawson, says Fiji Television has developed into a profitable and well performing television company with a great future.
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