Date
19 January 2018

Shanghai media groups gear up for integration, paper says

Shanghai Media and Entertainment Group (SMEG) and Shanghai Media Group (SMG) are expected to merge with each other by the end of March and eventually list the merged entity on the stock market, China Securities Journal reported Wednesday, citing Li Ruigang, the president of SMEG. As part of reform of cultural industry, SMEG’s listed units Shanghai Oriental Pearl (Group) Co. Ltd. (600832.CN) and BesTV New Media Co. Ltd. (600637.CN) will be key platforms for the integration, it said. The merger follows 20 reform proposals outlined by Shanghai’s state-owned assets supervision and administration commission in December last year, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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