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Murdoch sells stake in Star China
January 4, 2014, 4:54 am

File photo of Rupert Murdoch (right) [Getty Images]

File photo of Rupert Murdoch (right) in China [Getty Images]

China Media Capital (CMC) and Star China will acquire a 47 per cent stake in Star China TV from Rupert Murdoch’s 21st Century Fox, both sides said on Friday.

After the investment, CMC 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 wholly media and entertainment fund, since it was founded in 2009.


Source: Agencies