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Murdoch sells his stake in Star China TV

English.news.cn   2014-01-04 10:52:46            

By Zhu Shenshen

BEIJING, Jan. 4 (Xinhuanet) -- China Media Capital (CMC) and Star China’s management team are to acquire a 47 percent stake in Star China TV from Rupert Murdoch’s 21st Century Fox, both sides said yesterday.

After the investment, CMC and local management team will fully own Star China TV, which operates three 24-hour Mandarin channels — Xing Kong, Xing Kong International, Channel [V] Mainland China — and the Fortune Star Chinese movie library.

It was the first investment by CMC, China’s first specific media and entertainment fund, since it was founded in 2009.

(Source: shanghaidaily.com)

Editor: Yamei Wang
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