Television Broadcasts : TVB SIGNS MOU WITH ASTORY FOR CHINESE REMAKE OF KOREAN DRAMA SERIES “BIG MOUTH”

(25 September 2023, Hong Kong) Television Broadcasts Limited ("TVB" or "the Company", stock code: 00511.HK) is pleased to announce it has signed a Memorandum of Understanding ("MoU") with ASTORY Co., Ltd., a leading Korean contents studio ("ASTORY", stock code: 241840:KS), in relation to a potential Chinese-language re-make by TVB of ASTORY's Korean drama series Big Mouth.

With the signing of this MoU, TVB and ASTORY have established the key principles of the partnership, and will work together over the next few months to conclude a formal licensing agreement to remake Big Mouth in TVB version. Big Mouth (港譯 "律戰江湖") is a Korean thriller drama series whose main character is an incompetent lawyer who is drawn into a murder investigation, and then framed as a famous con-man. First aired in 2022 on Korea's MBC TV, and on global streaming platform Disney+, Big Mouth has won numerous awards including MBC TV's Drama Of The Year for 2022.

TVB has been actively exploring various opportunities to expand its content offerings and attract a wider audience. Following successful collaborations with mainland China's online video platforms in co-produced dramas through its subsidiary 77 Atelier Limited ("77 Atelier"), TVB is now venturing into the realm of re-making popular and iconic Korean drama IPs. This new endeavour, also to be led by 77 Atelier, not only highlights TVB's commitment to providing high-quality entertainment but also reflects its determination to explore growth and development in the ever-evolving entertainment industry.

In addition to this collaboration on Big Mouth, TVB and ASTORY will also explore the potential opportunities for a K-Drama remake project by ASTORY with TVB's IPs.

Thomas Hui, Executive Chairman of TVB said, "We are happy to cooperate with a leading Korean drama producer such as ASTORY, and are thrilled at the prospect of remaking Big Mouth. By embracing these iconic IPs, TVB aims to bring fresh and diversified content to our audience, catering to their diverse preferences. As we re-create this exciting TV series for our Chinese-speaking audiences around the world, we hope also to set the stage for closer content partnership between Hong Kong and Korea."

Sang Baek Lee, Chief Executive Officer of ASTORY said "We are thrilled to explore with TVB highly innovative global cooperations to create world class contents that will be loved by not only Chinese-speaking audience but also global audience. We will take this opportunity to further develop mesmerizing contents and IPs together with TVB."

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AboutTelevision Broadcasts Limited

Television Broadcasts Limited is one of the world's largest commercial Chinese programme producers. Headquartered in Hong Kong, TVB is one of the few broadcasters in the world that operates a vertically integrated business model encompassing content creation, broadcasting and distribution. It aspires to become a world-class media organisation with extensive digital and direct-to-customer capabilities, amplifying its long tradition to entertain, inform and enrich audiences.

About ASTORY Co., Ltd.

ASTORY Co., Ltd. is a leading global total contents studio and the most innovative K-Contents company in Korea, which produced iconic global series such as "Kingdom", "Extraordinary Attorney Woo", "Big Mouth", and "The Kidnapping Day".

Photo Captions:

1. Mr. Thomas Hui, Executive Chairman of TVB (left), and Mr. Sang Baek Lee, Chief Executive Officer of ASTORY signed the MoU, in relation to a potential Chinese-language re-make by TVB of ASTORY's Korean drama series Big Mouth.

1. First aired in 2022 on Korea's MBC TV, and on global streaming platform Disney+, Big Mouth has won numerous awards including MBC TV's Drama Of The Year for 2022.