Conditional access systems provider China Digital TV has provided updates on its asset restructuring with Shanghai Tongda Venture Capital (STV). Tongda Venture has received an approval in principle from the Chinese Ministry of Commerce. The Ministry principally agreed that Golden Benefit Technology, a subsidiary of STV, may use its 25 percent equity interest (equal to CNY 800 million) in Beijing Super TV, a Golden Benefit unit, to subscribe for Tongda Venture's non-public offering of A shares, and will be effective for 180 days from issuance date.

Tongda Venture should divest its equity interest in Beijing CNLive Culture Media, a culture and media company focusing on mobile TV, in which foreign investment is not allowed, prior to Golden Benefit acquiring the new shares. China Digital TV will submit the necessary documents to the China Securities Regulatory Commission for approval as soon as possible.