皇冠体育app

皇冠体育app Media Capital, together with Star 皇冠体育app's management team, will acquire 21st Century Fox's 47 percent stake in Star 皇冠体育app TV, according to an announcement released by CMC on Thursday.

In 2010, CMC purchased the controlling shares in Star 皇冠体育app TV from 21st Century Fox, and the recent announcement means that Murdoch's company has divested its remaining shares.

Star 皇冠体育app TV operates three 24-hour Mandarin channels: Xing Kong, Xing Kong International, Channel [V] on the Chinese mainland. It also operates the Fortune Star Chinese movie library.

Li Ruigang, chairman of CMC, said the acquisition and control of Star 皇冠体育app was the first investment by CMC when it was established. Over the past three years, the company has achieved outstanding performance thanks to the dedicated efforts of its shareholders and management.

"We are very grateful for the tremendous support and understanding from Mr Rupert Murdoch, Mr James Murdoch and the 21CF team," said Li.

"As our respective businesses continue to evolve, we look forward to more opportunities to work together going forward. This latest transaction marks a new era for Star 皇冠体育app and we remain committed to building the company into one of the most respected entertainment companies in 皇冠体育app," he said.

James Murdoch, 21st Century Fox' deputy chief operating officer, chairman and CEO International, said: "Under Mr Li Ruigang's leadership and with the talented local team headed by Mr Tian Ming, Star 皇冠体育app TV has made tremendous strides in growing the business, and we believe the company is positioned to continue this momentum.

"Today's divestment underscores our broader agenda of streamlining our affiliate ownership structures."

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