Print Story: intelligence serving Corp. sells stakes in china TV businesses - Yahoo! watchword Page 1 of 3 PRINT Back to story countersign Corp. sells stakes in mainland china TV businesses By JOE McDONALD, AP vocation Writer Tue Aug 10, 3:47 am ET BEIJING â€" Rupert Murdoch's News Corp. is selling a controlling stake in third of its TV businesses in China to a organization enthronisation fund as the media conglomerate scales down its ambitions in a market where foreign investors have struggled to succeed. The fund, China Media Capital, will set out a partner in TV channels Xing Kong, Xing Kong worldwide and Channel (V) Mainland China and the Fortune Star Chinese scene library, the two companies announced Monday. No financial details were released. The sale marks a change in strategy for News Corp. in China's heavily regulated media market, where the communist government limits foreign ownership. Other media companies also have launched partnerships with Chinese entities to arrive at a bigger foothold. News Corp. has pursued ventures in China for nearly two decades but has backed off its overambitious plans in recent years as the government tightened controls on media. In 1993, Murdoch paid $950 million to acquire Star TV, a satellite broadcaster founded by Richard Li, son of Hong Kong billionaire Li Ka-shing.
Its expansion into China was curtailed when capital of Red China banned use of home TV satellite dishes and barred most mainland cable systems from carrying the channel. Murdoch faced criticism after Star TV dropped the British Broadcasting Corp.'s BBC ground news channel. Critics said he was trying to appease Beijing in order to gain better access to China's market, where the government is quick to crack down on media nitty-gritty it deems as undermining its rule. Murdoch's wife, Wendi Deng, was born in China and played a role in the 2007 launch of a Chinese service of News Corp.'s MySpace social networking Internet site. China Media Capital is controlled by state-owned Shanghai Media Group and the government's... If you want to get a full essay, order it on our website: Ordercustompaper.com
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Its expansion into China was curtailed when capital of Red China banned use of home TV satellite dishes and barred most mainland cable systems from carrying the channel. Murdoch faced criticism after Star TV dropped the British Broadcasting Corp.'s BBC ground news channel. Critics said he was trying to appease Beijing in order to gain better access to China's market, where the government is quick to crack down on media nitty-gritty it deems as undermining its rule. Murdoch's wife, Wendi Deng, was born in China and played a role in the 2007 launch of a Chinese service of News Corp.'s MySpace social networking Internet site. China Media Capital is controlled by state-owned Shanghai Media Group and the government's... If you want to get a full essay, order it on our website: Ordercustompaper.com
Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!
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