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Under the Partnership, Sony will establish a wholly owned subsidiary (the "Preparatory Company") to assume its home entertainment business. TCL will then subscribe to a portion of the shares of the Preparatory Company, thereby forming a joint venture (the "New Company") in which TCL will hold 51% and Sony will hold 49% of the shares.

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TCL will hold 51% for $473 million, with operations starting April 2027. The joint venture encompasses Sony's entire home entertainment range, ...

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