Taiwan's Eastern Media bids for Carlyle's stake in local TV firm

TAIPEI (REUTERS) - Taiwan's Eastern Media International Corp is bidding to buy Carlyle Group's entire 61 per cent stake in local TV company Eastern Broadcasting which is worth around US$240 million (S$305 million), two sources with direct knowledge of the matter said on Wednesday.

Eastern Media International, a warehousing service provider, currently holds 30 per cent of the shares of Eastern Broadcasting and is the company's second largest shareholder.

Carlyle is expected to make a decision on the bid by the end of this month, the sources said.