Star China Media
 Logo used since 2001 | |
 Headquarters in Shanghai | |
| Formerly | Star Greater China (4 July 1991–31 May 2010) |
|---|---|
| Company type | Public |
| SEHK: 6698 | |
| Industry | Media |
| Founded | 4 July 1991 |
| Founder | Star TV |
| Headquarters | 1211-1212, Jiefang Daily Tower, No.300 Hankou Road, , |
Key people | |
| Products | |
| Parent | China Media Capital |
| Subsidiaries | Canxing Media Fortune Star |
| Website | fortunestarmedia |
| Star China Media | |||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 星空华文传媒 | ||||||
| Simplified Chinese | 星空华文传媒 | ||||||
| Literal meaning | Xing Kong Wen Media | ||||||
| |||||||
Star China Media (Chinese: 星空华文传媒), also known as Star (CM) Holdings, is a Chinese media company owned by China Media Capital. The company operates television channels Xing Kong and Channel V Mainland China, and maintains Fortune Star film library.
Its businesses were previously a part of the original News Corporation's Star TV group of television channels in Hong Kong. China Media Capital took over a percentage of shares in them in 2010, and completed acquisition in 2014.
History
Founding
Star TV (Satellite Television Asian Region) was founded in British Hong Kong (now called Hong Kong since 1997) in 1991 as a joint venture between Hutchison Whampoa and Li Ka-Shing. It was launched as a Pan-Asian beam-to-air Hollywood English-language entertainment channel for Asian audiences.[1]
1991–2009
In 1991, Star Greater China started with the first 5 channels included Prime Sports, Star Plus, BBC WSTV, MTV and Star Chinese Channel.
In 1992, Rupert Murdoch's News Corporation purchased 63.6% of Star Greater China for $525 million, followed by the purchase of the remaining 36.4% on 1 January 1993. Star broadcasting operations were run from Rupert Murdoch's Fox Broadcasting premises.[2][3] Murdoch declared that:[4]
"(telecommunications) have proved an unambiguous threat to totalitarian regimes everywhere ... satellite broadcasting makes it possible for information-hungry residents of many closed societies to bypass state-controlled television channels"
In August 2009, the Star Group restructured its Asian broadcast businesses into three units – Star Greater China, Star India, and Fox International Channels Asia where Star Greater China was separated from its Hong Kong headquarters. Among the assets Star Greater China would oversaw included Xing Kong, Channel V Mainland China and Fortune Star film library.[5][6]
Sale to CMC
In August 2010, it was announced that News Corporation would sell a controlling stake in its assets in mainland China to China Media Capital (CMC), which was headed by Li Ruigang (of Shanghai Media Group).[7][8][9] Xing Kong (both domestic and international versions) and Channel V Mainland China, plus Fortune Star film library were in the sale,[7][8][9] and a joint venture named Star China Media was created in the process.
In January 2014, the company's management team and CMC acquired the remaining stake from 21st Century Fox (which took television businesses from the original News Corporation in the 2013 split).[10][11][12] This marked 21st Century Fox's exit from Mandarin entertainment television market in Mainland China.
In 2021, Star China Media launched an initial public offering as a publicly traded company, trading on the Hong Kong Stock Exchange (HKSE) with the application being accepted on December 29, 2022, when its was trading on the stock exchange.[13]
Owned channels
See also
References
- ^ "The role of the nation-state: Evolution of STAR TV in China and India" (PDF). Archived (PDF) from the original on 2017-08-09.
- ^ Palmer, Rhonda. (26 July 1993) Murdoch catches rising Star – Entertainment News, Business News, Media. Variety. Retrieved 20 May 2012.
- ^ THE MEDIA BUSINESS; Star TV Extends Murdoch's Reach. New York Times (23 August 1993). Retrieved 20 May 2012.
- ^ Monbiot, George (21 April 2008). "George Monbiot: The most potent weapon wielded by the empires of Murdoch and China". The Guardian. Retrieved 24 July 2017.
- ^ "News Corporation Restructures Broadcast Businesses in Asia" (press release) News Corporation 18 August 2009 Archived from the original on 27 August 2009
- ^ Watkins, Mary; Li, Kenneth "News Corp announces Star TV shake-up" Financial Times August 19, 2009
- ^ a b Young, Doug "News Corp sells controlling stake in China TV channels" Reuters August 9, 2010
- ^ a b Chu, Karen "News Corp. sells Chinese-language channels to CMC" Associated Press August 9, 2010 (via The Hollywood Reporter)
- ^ a b Coonan, Clifford "China Media Capital buys Star China" Variety August 9, 2010
- ^ "Star China's Management Team and China Media Capital to Acquire 21st Century Fox's Entire Stake in Star China TV Joint Venture" 21st Century Fox Business Wire January 2, 2014
- ^ Patnaik, Sampad "21st Century Fox sells Star China TV stake" Reuters January 2, 2014
- ^ William, Christopher (2 January 2014). "Rupert Murdoch gives up on China with sale of Star China TV". The Telegraph. Telegraph UK. Retrieved 20 July 2014.
- ^ "业绩连续三年下滑，上市首日股价大涨！星空华文能否唱好"中国好声音"？". Daily Economic News. Retrieved 2023-01-02.