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Tag: Wang Jianzhou

  • China Mobile, News Corp & Star in partnership to explore wireless space

    China Mobile, News Corp & Star in partnership to explore wireless space

    MUMBAI: China Mobile Limited, News Corporation and Star Group Limited have announced a broad strategic partnership to explore wireless media business opportunities.

    By leveraging the content assets and interactive services of News Corporation and Star, the partners will combine their strengths to develop wireless media services based on China Mobile’s mobile platform, through which China Mobile serves over 260 million subscribers. The cooperation will explore wireless media business opportunities on a global basis, states an official release.

    Key areas of the cooperation will include development, production, aggregation and distribution of a wide array of wireless services ranging from music, broadband interactivity, and social networking to multimedia value-added products, informs an official release.

    China Mobile chairman and CEO Wang Jianzhou said, “The partnership with News Corporation and Star will lay a solid foundation for providing wireless multimedia services. This is a very important step for us in view of the global convergence of telecommunication, media and Internet. With News Corporation and Star’s popular and quality media content assets, we will be able to offer more exciting services to our customers.”

    News Corporation chairman and CEO Rupert Murdoch says, “Partnering with China Mobile gives us immediate access to a vast consumer base throughout China. News Corp. has been a world leader in wireless content while our services such as MySpace dominate the online social networking craze. It is my hope that this partnership will unleash the creative and technical abilities of the talented employees of News Corp. and China Mobile to bring new offerings to consumers across mainland China and Hong Kong.”

    Star Group CEO Michelle Guthrie adds,” Today’s partnership represents an important new media growth opportunity for Star. China Mobile’s world-leading expertise, customer base and exciting growth initiatives will allow us to expand the Star brands and services in the largest wireless market in the world. We look forward to working closely with them to bring a new level of wireless entertainment to the consumer.”

  • China Mobile buys 19.9% of Phoenix from Star Group

    China Mobile buys 19.9% of Phoenix from Star Group

    MUMBAI: China Mobile (Hong Kong) Group Limited has purchased a 19.9 per cent interest in Phoenix from Star Group Limited. After the transaction, Star will continue to hold 17.6 per cent of Phoenix.

    China Mobile and Phoenix Satellite Television Holdings Limited have also reached a strategic alliance to jointly develop, market and distribute wireless content, products, services and new media applications.

    Under the strategic alliance agreement, China Mobile and Phoenix will jointly develop products and services relating to the wireless delivery of media content. In exchange for direct access to China Mobile’s network and customer base on favourable terms, China Mobile will have preferential access to Phoenix’s news and selected programs. 

    The deal will complement China Mobile’s 3G strategies by widening its service offerings and providing enhanced media content to its mobile subscribers, and will broaden Phoenix’s new media content’s access to China mobile’s customer base, informs an official release.

    China Mobile chairman and CEO Wang Jianzhou says, “Phoenix offers a unique set of content to the Chinese community globally. By leveraging Phoenix’s media content via our mobile platform, China Mobile will be well positioned to provide wireless multimedia services to our customers.”

    Phoenix chairman and CEO Liu Changle adds, “The establishment of this new strategic alliance will provide an excellent opportunity for the further development of Phoenix’s new media business, and should have a very positive impact on Phoenix’s long-term commercial prospects, enabling Phoenix to distribute its content through China Mobile’s wireless platform and reach a broader market.”

    Star Group CEO Michelle Guthrie says, “We believe that bringing in China Mobile as a shareholder and strategic partner will create incredible growth opportunities for Phoenix in the future. We look forward to our continued involvement in Phoenix as the company extends its content to the largest wireless customer base in the world.”

    Goldman Sachs is acting as financial advisor to China Mobile. Merrill Lynch is acting as financial advisor to Star, according to the news release.