PE-backed Shanghai Media Group buys Murdoch TV channels
China’s second-largest media company, Shanghai Media Group (SMG) – backed by PE fund China Media Capital – is to purchase the controlling stakes of three News Corp. channels, paying Rupert Murdoch’s company an undisclosed amount for the assets.
SMG will now control Xing Kong, Xing Kong International and Channel [V] Mainland China, as well as News Corp.'s Fortune Star Chinese movie library. According to reports, China Media Capital launched last...
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