According to the NY Times, China’s State Council last week laid down a new set of directives that will open up the media and entertainment industries to foreign investment, albeit through state vehicles.
Key for us is this passage:
“This is not an invitation for stakes by international media companies,” says Vivek Couto, director of Media Partners Asia, a Hong Kong-based research firm. “But this may be an invitation for private equity and foreign capital to do more.”
Consistantly seen as a key strategic industry, authorities have made it consistantly difficult for foreign media companies to get in on the action. This move is likely to strengthen the hands of existing media giants, as they open up to outside investment for rapid expansion.
You can read the article in full HERE.