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China Media Stocks Plunge on Reports of More Industry Listings

China’s media stocks plunged, dragging down the Shanghai Composite Index, after Shanghai Securities News reported 10 news portals may be allowed to be listed publicly to help the new media industry grow.

Beijing Gehua CATV Network Co., Shanghai Xinhua Media Co, Shaanxi Broadcast & TV Network Intermediary Co., and China Television Media Ltd. all fell by the maximum 10 percent limit.

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