Murdoch Discouraged Withdrawal Mainland-china

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(Nextmedia)Media tycoon Rupert Murdoch (Rupert Murdoch) reduction in investment in the Mainland-china, Rupert News Corp announced yesterday, the three mainland Chinese channels to sell controlling stake of Shanghai Municipal Government led established Chinese culture industry Investment Fund (CMC). Comments will show up on Rupert Murdoch's heart, and is also closely monitoring the media in Beijing. From the Communist point of view, the acquisition of the Western media has helped to win international opinion. News Corporation and CMC yesterday issued a joint notice, indicating that both parties have signed an agreement to be acquired CMC News Corp's sky satellite TV channels, Star Mandarin international and Channel [V], and the stars of the Chinese film library. Notice that both parties would like to take a new development opportunities and business development. The parties will establish a consortium, is headquartered in Beijing, but the trading terms not disclosed. This time the master TV 3 is the first investment project in the CMC. Fund Chairman Li ruigang notice that this was the CMC and long-term cooperation with News Corporation an important basis for the "continental capital entering the international media market, will actively promote the spread pattern of change in the world and its development. "News Corp Chairman and CEO of Eurasian business, Rupert Murdoch's son al-Chi (James Murdoch) said: this agreement was authorized by CMC, let us continue to serve the future of development cooperation. "News agency reported that News Corporation selling channels, never reaching the expected Rupert Murdoch. These channels have been unable to play in the whole of China, only on foreign tourists mainly senior hotel and foreign embassy area, broadcasting, civilians who want to see the channel, you must install the antenna illegally. British Broadcasting Corporation (BBC) quote analysis that Rupert Murdoch has sold three channels of control is China's media market interest fades. Reuters is described as News Corporation from mainland markets "got back" (pullback). BBC quotes from the trade analysis, Vivek Couto news group operating in China for about twenty years later, is ultimately made a move cannot be avoided: "they know that the growth in the market, the best solution is to ensure that the business is in the hands of local people. "News Corp employees on that sale of controlling stake still holding nearly half stock, existing management remain unchanged. News Corporation to set foot in China for many years, is the first right to acquire television landing foreign media agencies. In addition to the channel, ESPN, satellite television, movie channel, National Geographic Channel and Phoenix TV more TV channels. As of 31 March this year, the News Corporation assets worth about $ 550 billion, about 4,270 billion. CMC is the continent's first development and Reform Commission approved the establishment of the private placement Fund, major shareholders as Shanghai Oriental media group, the group is second only to China Central television's second largest media group. CMC in April last year, approval by the Chinese Communists NDRC, fund size 50 billion yuan (about $ 57 million). The Fund has established the United Front, stresses commitment to the continent culture "going out", making use of the capital means to intervene in the international media market, serving continental enhanced international communication capacities of the overall strategy. Phoenix TV shows, cultural critics, said that News Corporation Leung Man sell TV channels to the Mainland enterprises is the trend, as early as the 1990s Germany large books sales group Bertelsmann (Bertelsmann AG) on the Mainland ", to the recent network search engine Google is prepared to withdraw from the Mainland, are reflected in the foreign-funded enterprises are spread in the continent of culture is based on the market. Rupert Murdoch in 1993 to 41 million from the hands of Richard Li purchased satellite TV (STAR TV), Rupert Murdoch's wishful thinking to TV as a Communist country News Corporation into a bridgehead, but over the years, failed to break through the continent closed media fortress, will eventually be three channel holding the right to change hands.