Deals
News Corp. to Sell Star China Assets’ Control to Fund
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News Corp. agreed to sell a controlling stake in Star China TV assets including Xing Kong and Fortune Star Chinese movie library to China Media Capital, a private-equity fund formed last year with government backing.
Billionaire Rupert Murdoch’s News Corp. also sold control of Xing Kong International and Channel [V] Mainland China as part of the agreement with China Media Capital, or CMC, the companies said today in an e-mailed statement. They didn’t disclose terms of the sale.