【明報專訊】TVB'S commercial buyback plan has accidentally brought to light the complexity of TVB's real share structure. The Takeovers and Mergers Panel of the Securities and Futures Commission (SFC) has discovered that Young Lion Holdings (YL), currently the largest shareholder of TVB, has a complicated share structure — while Hong Kong businessman Charles Chan Kwok-keung (nicknamed King of Shell Companies) is the Chairman of the Board, it is in fact Li Ruigang, called the "Murdoch of China", who is the company's real substantial shareholder. The SFC cannot even rule out the possibility that there is another boss.