Media business

Murdoch retreats, China Mobile advances into TV

url.jpeg
Rupert retreats
Image from Sydney Morning Herald
Mure Dickie of the Financial Times reports:
Rupert Murdoch’s News Corp is to sell a 20 per cent stake in Phoenix Satellite Television, its Hong Kong-based Chinese TV joint venture, to China Mobile, the state-controlled wireless operator, in an apparent shift in group strategy towards China.

The sale, worth $185m based on the most recent close of Phoenix’s shares, cuts News Corp’s stake to less than 18 per cent, making China Mobile its second biggest shareholder.

The deal marks a dramatic reduction in News Corp’s involvement in what has been its most successful foray into the fast-growing Chinese media market – and appears to highlight Mr Murdoch’s frustration at Beijing’s tight media controls...

Links and Sources
There are currently 1 Comments for Murdoch retreats, China Mobile advances into TV.

Comments on Murdoch retreats, China Mobile advances into TV

Does this mean even more Chinese government control over tv in China and the region? What does this mean for content?

China Media Timeline
Major media events over the last three decades
Danwei Model Workers
The latest recommended blogs and new media
laomo2010x80.jpg
From 2008
Front Page of the Day
A different newspaper every weekday
From the Vault
Classic Danwei posts
+ Culture and corporate propaganda in Soho Xiaobao (2007.11): Mid-2007 issues of Soho Xiaobao (SOHO小报), illustrating the complicated identity of in-house magazines run by real estate companies.
+ Internet executives complain about excessive Net censorship (2010.03): Internet executives complain about excessive Net censorship at an officially sanctioned meeting in Shenzhen.
+ Crowd-sourced cheating on the 2010 gaokao (2010.06): A student in Sichuan seeks help with the ancient Chinese section of this year's college entrance exam -- while the test is going on!
Danwei Archives