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Pacific Media PLC (RETV)

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Tuesday 24 October, 2000

Pacific Media PLC

Acquisition

Pacific Media PLC
24 October 2000

                    PACIFIC MEDIA PLC
                            
       COMPLETES ACQUISITION OF ADDITIONAL 18% OF
                   THE CHINESE CHANNEL


Pacific Media Plc ('Pacific Media'), the integrated media
and  e-commerce  group serving Asia,  has  completed  the
agreement  with  Shaw Media Corporation  ('Shaw  Media'),
announced  in  June, whereby Pacific Media  has  acquired
their  18% interest in both The Chinese Channel  Holdings
Ltd and the Chinese Channel Ltd ('Chinese Channel').  The
consideration of £1.57 million for this 18% interest  has
been satisfied by the issue to Shaw Media of 34.1 million
Pacific Media new ordinary shares at a price of 4.6p  per
share  which is at a premium to the current share  price.
Application will be made for these new Ordinary shares to
be admitted to trading on AIM.

Pacific Media now owns 36% of the Chinese Channel and the
remaining 64% is owned by Television Broadcasts  Limited,
the   world's   largest  producer  of  Chinese   language
programming.

Emmanuel Olympitis, Chairman of Pacific Media, commented:
'I  am  delighted that we have been able to increase  our
shareholding in the Chinese Channel, which is forecast to
break even this year.  It has over 22,000 subscribers and
fits  well  with our strategy of acquiring  high  quality
Asian focused media assets.'


For further information, please contact:

Emmanuel Olympitis            Caroline Sturdy
Chairman                      Associate Director
Pacific Media Plc             Bell Pottinger Financial
Tel:  020 7235 9686           Tel:  020 7353 9203


Note to Editors:
Media Corporation
Shaw  Media is controlled by Markus and Darren  Shaw  who
are  great  nephews  of  Sir Run Run  Shaw,  Chairman  of
Television Broadcasts Limited.