Chapter 258 The Lee Family's Decision
Everyone's comments clearly showed that no one present had any interest in taking over the leadership of TVB.
In their eyes, even under Lee Siu Ho—recognized within the Lee family as a top management talent—TVB still couldn't surpass Rediffusion Television.
They understood their own capabilities; if they took over, TVB's situation would likely worsen.
Being TVB chairman wasn't an easy task.
Doing it well would be commendable; doing it poorly would just end in public humiliation and dismissal.
Besides, each of them held only a small share individually.
To them, the chairman's position was simply not worth the trouble.
"Since none of you are interested in controlling TVB, let me make a suggestion—sell the shares," said Lee Ming Chak, sitting calmly as he addressed the family's core members.
"Big Brother, it's not that simple to sell TVB shares.
The company doesn't make much profit and isn't even publicly listed," said Fourth Brother Lee Rong Sen, frowning.
Back when they had co-founded TVB, the initial investments from each shareholder weren't large.
Yet, over the years, TVB's profits had been limited.
Especially during the years when Commercial Television emerged, making it a three-way competition, fierce rivalry meant all profits were reinvested into producing new dramas, leaving little to no dividends.
After Commercial Television collapsed, TVB's situation improved somewhat.
However, Rediffusion remained a powerful competitor, constantly raising production budgets and releasing high-quality dramas.
Thus, even after Commercial Television's collapse, TVB still struggled to beat Rediffusion in ratings.
Technically, it wouldn't be hard for TVB to reclaim the lead—just increase investment and improve drama quality to better cater to viewers' tastes.
But none of the shareholders wanted to pour more money into the company.
To the Lee family, TVB was an asset that boosted their prestige but brought little financial return.
The television station could support itself, sure, but the title of TVB board director brought little real benefit.
This was why neither Lee Ming Qia, Lee Rong Sen, nor Lee Rong Jie had much interest in controlling TVB.
It was also why Lee Ming Chak himself had little interest.
"I've already found a suitable buyer.
If you agree, you can sell the shares," Lee Ming Chak said with a smile.
He understood that Lin Haoran's current status in Hong Kong's business world had soared—even top British tycoons like Noel Croucher had been forced to bow to him.
It was an unprecedented event in Hong Kong's history.
Thus, befriending Lin Haoran was now a strategic necessity for the Lee family.
"Big Brother, who is it?
Could it be Mr. Run Run Shaw?" asked Second Brother Lee Ming Qia immediately.
After all, Run Run Shaw already held a significant number of TVB shares and had long been deeply involved with the station.
If he wanted more control, it would make sense.
"It's not Run Run Shaw.
He hasn't contacted me.
Given that Shaw Brothers is busy competing with Golden Harvest, he likely doesn't have much time or energy to manage TVB," Lee Ming Chak replied with a chuckle.
"Then who is it?" even Lee Luk Yin Kwan was curious.
"Alright, I won't keep you guessing.
It's Mr. Lin Haoran, chairman of Hongkong Electric.
He approached me about buying our shares in TVB.
He didn't name a specific price but said he wouldn't haggle excessively as long as the price is reasonable.
You all know Mr. Lin's standing—he's risen swiftly, he's still young, only in his twenties.
Although we've maintained a good relationship with him over previous dealings, I believe that selling him our TVB shares not only allows us to cash out but also earns us a valuable favor from a rising star," Lee Ming Chak explained directly.
As the family patriarch, his opinion carried significant weight.
The others didn't immediately object.
Most of them had lost interest in TVB over the years.
Their initial investments had been made largely at Lee Siu Ho's urging.
But over time, they realized TVB wasn't particularly profitable and lost enthusiasm.
Of them all, Lee Luk Yin Kwan probably cared the most.
After all, TVB had been her late husband's prized endeavor.
If she could, she would have liked to honor his legacy by staying involved.
However, she knew she lacked real operational experience—she had spent the past two decades focused on family life.
Even if she wanted to, no one would accept her leadership.
Thus, she remained silent, resigned to going with the flow.
Liquidating the shares wouldn't be bad either.
Real estate prices in Hong Kong were skyrocketing—investing there could yield greater returns.
"Shouldn't we inform Mr. Run Run Shaw first?
Out of courtesy, given our close relationship with the Shaw family," Lee Luk Yin Kwan asked.
Influenced by her late husband, she felt they owed Shaw that respect.
"Third Sister-in-law, it's not necessary.
If we ask and he disagrees, are we supposed to listen to him?
It's better to act quickly," Fourth Brother Lee Rong Sen said with a laugh.
Lee Luk Yin Kwan said no more.
"Big Brother, we're willing to sell, but we don't know what price to ask," said Second Brother Lee Ming Qia, looking at Lee Ming Chak.
"Exactly.
Since neither TVB nor Rediffusion are listed, there's no clear valuation to reference," Lee Rong Sen added.
"You all can discuss a fair price among yourselves.
Not too high, so as not to scare off Mr. Lin.
Not too low, so you don't feel cheated.
Once you agree, I'll relay the price to Mr. Lin.
If he accepts, great.
If not, we can reconsider," Lee Ming Chak suggested.
"Big Brother, do you think valuing TVB at 200 million HKD is fair?" Lee Ming Qia asked after a moment's thought.
Despite its modest profits, TVB's influence was undeniable—it was one of only two TV broadcasters licensed in Hong Kong.
"Maybe 300 million would be more appropriate?" said Lee Rong Sen, a bit greedily.
Everyone wanted a better deal.
If they valued TVB at 300 million HKD, each family member would receive a few million more.
While the Lee family was wealthy, they weren't so rich that they'd ignore a windfall.
"I think a compromise is best.
Let's set TVB's value at 250 million HKD.
That way, each of us can cash out nicely," Fifth Brother Lee Rong Jie suggested.
"What about you, Sister-in-law?" Lee Ming Chak asked Lee Luk Yin Kwan.
"I'll follow the family's decision," she said, still mourning her husband's loss.
Seeing that everyone agreed, Lee Ming Chak concluded:
"Alright, we'll value TVB at 250 million HKD.
Anyone opposed?"
"No objections," they replied one after another.
Based on that valuation, their collective 24% stake would be worth about 60 million HKD.
Each of the four shareholders would receive 15 million HKD.
While it wasn't a fortune by Lin Haoran's standards, it was still a considerable sum in Hong Kong.
"Since we've decided, I'll contact Mr. Lin immediately.
No need to delay further," said Lee Ming Chak.
Everyone agreed.
Since they didn't live together, it made sense to finalize things quickly.
Thus, Lee Ming Chak picked up the phone and dialed Lin Haoran's pager.
He didn't know exactly where Lin Haoran was—he owned multiple companies.
Paging him was the fastest option.
At that moment, Lin Haoran was already back home.
Seeing the page, he quickly called back.
Anyone who had his pager number was someone he knew personally.
"Mr. Lin, this is Lee Ming Chak," came the voice over the phone.
"Ah, Mr. Lee.
Has there been a decision regarding TVB?" Lin Haoran asked eagerly.
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