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MUMBAI: Star China Media, owned by powerful Chinese media
investment fund China Media Capital and media conglomerate
News Corporation, has formed a joint venture company with
Puji Capital, a Shanghai-based investment and asset management
firm with a focus in lifestyle, media, property, and consumer
industries.
Puji
Star Media, the new joint venture based in Shanghai, will
focus on investment and development of international TV content
for the Star platform in China.
The
venture will invest in internationally inspired TV content
and advertising with particular interest in the Americas,
Europe, Japan, Korea, and among others tailored for the local
Chinese viewers onto the Star TV's platform including various
types of content made for TV and produced for the Chinese
market.
Star
China CEO Tian Ming said, "Puji's vast experience in
value creation for shareholders coupled with their strong
international media network and platforms allows us to be
well positioned to the tremendous opportunity that lies ahead
for us in the China media market."
Michael
Chien from Shanghai and Jotaro Nonaka from Japan, managing
partners of Puji Capital, said in a joint statement, "We
are honored to partner with Tian Ming and his team who has
turned Star TV to a profitable company within a short time
with his creativity and solid understanding to capture the
passion of Chinese viewers and its commercial value.
"Star
China is a very distinctive TV platform that enjoys many content
and distribution advantages over its competitors for China
market. We believe that Puji Star Media will provide a very
unique 'One Stop Gateway' for those who wish to optimize and
maximize their business through Star TV's vast coverage in
the China market."
China's
TV market experienced tremendous growth over the past years,
with broadcasting revenues increasing $15 billion in 2005
to $37 billion in 2010 and enjoyed a 22 per cent increase
in 2011.
The
Chinese media, specifically television content, is growing
at annual rate of 27 per cent and produced $19 billion of
advertising revenue in 2011.
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