State-owned media group establishes privatization

Shanghai Media Group Broadband (SMGBB) partnered with Intel Capital to facilitate the co-development of a wireless broadband and mobile technology service…

1 minute readMay 08, 2008 at 12:58 AM

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Shanghai Media Group Broadband (SMGBB) partnered with Intel Capital to facilitate the co-development of a wireless broadband and mobile technology service for high-definition TV programmes.

The partnership marks one of the first privatisations of digital media and broadband assets by a state-owned-enterprise (SOE) in China. Shanghai Media Group received US$12 million in financing from the deal.

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