Nov. 9 (Bloomberg) -- Phoenix Satellite Television Holdings Ltd., the broadcaster part owned by China Mobile Communications Corp. and News Corp., said a unit will sell $25 million of stock to Intel Corp. and Bertelsmann AG to fund acquisitions.

The unit, Phoenix New Media Ltd., will use funds from the share sale to buy companies providing Internet content and value-added telecommunications services, according to a Hong Kong stock exchange filing today. Units of Intel and Bertelsmann will buy preferred shares in Phoenix New Media, it said.

Phoenix TV, founded more than a decade ago to broadcast Mandarin Chinese-language programming, has added businesses including its ifeng.com Web site in an effort to bolster revenue. The Hong Kong-based company’s revenue from new media rose 7 percent in the first half from a year earlier as total sales gained 2.5 percent.

The TV operator’s shares rose 4.4 percent to HK$1.88 in Hong Kong trading today. The city’s benchmark Hang Seng Index rose 1.7 percent.

To contact the reporter on this story: Joshua Fellman at jfellman@bloomberg.net

Last Updated: November 9, 2009 03:48 EST