Rushil
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MUMBAI: After divorcing his third wife, Wendi Deng, Rupert Murdoch has ended all ties with China by selling off 21st Century Fox’s minority stake in the broadcaster Star China TV to a private equity.
Star China’s majority shareholder since 2010, China Media Capital, has agreed to buy Murdoch’s remaining 47 per cent stake for an undisclosed sum, estimated to be roughly $150 million.
The existing Chinese management team will remain in place, broadcasting three Mandarin channels and producing China’s Got Talent.
The move means that it is the final stage of a retreat from China, which Rupert Murdoch has tried to crack since 1993.
However, as part of 21st Century Fox, Star TV, will now continue to focus its ambitions on India.
James Murdoch oversees 21st Century Fox’s international businesses.
Indian Television Dot Com > News Headline > Rupert Murdoch sells Foxs TV stake in China
Star China’s majority shareholder since 2010, China Media Capital, has agreed to buy Murdoch’s remaining 47 per cent stake for an undisclosed sum, estimated to be roughly $150 million.
The existing Chinese management team will remain in place, broadcasting three Mandarin channels and producing China’s Got Talent.
The move means that it is the final stage of a retreat from China, which Rupert Murdoch has tried to crack since 1993.
However, as part of 21st Century Fox, Star TV, will now continue to focus its ambitions on India.
James Murdoch oversees 21st Century Fox’s international businesses.
Indian Television Dot Com > News Headline > Rupert Murdoch sells Foxs TV stake in China
