TVB founder and movie mogul Sir Run Run Shaw dies

Sir Run Run Shaw, the Asian entertainment mogul who launched Hong Kong’s biggest local TV channel and took Chinese movies to the world, has died aged 107.

Shaw “passed away peacefully in the company of his family at 6:55 am at home”, according to a statement from TVB, which he co-founded in 1967 with older brother Runme and was executive chairman of for three decades.

“Although we knew this day would come, no words can adequately express our sorrow and lessen our sense of a profound loss. He will be sadly missed by all of us in TVB,” the statement added.

Shaw was born into a wealthy family in Shanghai in the early 20^th century and moved into the entertainment business in the 1920s.

He is recognised as a godfather of the Hong Kong movie business through Shaw Brothers Studios, which he ran with Runme. The studio is credited with popularising kung fu in the West, and Shaw himself was a producer on US films such as Blade Runner.

The Financial Times reported his second wife, Mona Fong, will now take control of his businesses. Shaw sold his 26% shareholding in TVB in 2011 and was subsequently appointed company chairman emeritus.

He will have a private funeral and details of a memorial service are to be issued at a later date.