China Digital TV holders approve Super TV sale

• At an extraordinary shareholder meeting today, China Digital TV (STV -2.5%) approved the sale of its CA, Network Broadcasting Platform and Video on Demand businesses via the sale of its interest in Beijing Super TV.
• The company had set up a management/Super TV buyout in November, involving a $90M payment. China Digital TV unit Golden Benefit Technology reached an equity-transfer deal with ChangxingBao LiRuiXin Technology, which is an LLC that includes China Digital chief Jianhua Zhu as well as Super TV President Dong Li.
• China Digital also held its ordinary annual general meeting today, at which it approved the re-election of Jianyue Pan and Songzuo Xiang to three-year terms as Class III directors.