The latest bidder for TVS, US media company Broadway, has decided to with- draw its offer, leaving International Family Entertainment as sole contender for the TV company.
Information about TVS was given to Broadway while IFE’s proposal document was being prepared. After placing an initial bid through its bankers the production company then announced that it was not interested in the investment. IFE, in the meantime, is still receiving complaints from TVS preference shareholders, causing enough opposition to block the sale. December 15 is the closing date for the offer.
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