China Media Capital (CMC), a equity investment fund focusing on media and entertainment, has inked an agreement with Rupert Murdoch’s Twenty-First Century Fox. Inc to buy the latter’s 47 percent stake in Star China TV, Netease.com reported Friday, citing an announcement. CMC, in which China Development Bank is a major investor, has been a majority shareholder in Star China TV since 2010. It will now buy out the remaining 47 percent stake, the report said, without providing the deal value. Star China operates three 24-hour Mandarin language entertainment television channels and a Chinese movie library.
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