CMMB Vision Holdings Limited (SEHK:471) agreed to acquire 5% stake in Dish-HD Asia Satellite Limited from Yu Yueh-Lung for $2 million on December 1, 2014. Under the terms, CMMB Vision Holdings Limited (SEHK:471) also agreed to acquire an option to purchase additional 46% equity interest in Dish-HD Asia for $4 million, exercisable by the Company on or before May 31, 2015. Dish-HD Asia reported net loss before and after tax of $11.9 million in 2013. Dish-HD Asia had net liabilities of $21 million as on September 30, 2014. The transaction is subject to satisfactory due diligence on the legal, CMMB shareholder approval, regulatory approval and financial status of Soaring.

CMMB Vision Holdings Limited (SEHK:471) cancelled the acquisition of 5% stake in Dish-HD Asia Satellite Limited from Yu Yueh-Lung on March 31, 2015. No payment has been made by CMMB Vision pursuant to the share purchase agreement. CMMB Vision Holdings Limited entered into a new joint venture agreement to acquire 3% stake in Dish-HD Asia Satellite Limited from Yu Yueh-Lung for $2 million on March 31, 2015.