Phoenix Satellite TV in Beijing radio venture
(Shenzhen Daily)
Updated: 2004-09-06 15:58

Phoenix Satellite Television Holdings Ltd, a Hong Kong-based affiliate of Rupert Murdoch's News Corp, said it would work with a Beijing radio station to set up a national radio network in China.

The two companies signed an agreement last Friday to set up a joint venture, to be 55 percent owned by the State-owned Beijing People's Broadcasting Station and 45 percent by Phoenix.

Both companies will contribute their libraries of programs -- which in Phoenix's case would have to be converted to radio format -- to the planned network.

The Beijing radio station said it was the largest in China by revenue.

The Chinese-language TV broadcaster Phoenix, which has previously signaled its interest in radio, has made its name through news and talk shows, which could be adapted to the new medium.

"I believe this agreement will not only allow the two parties to expand the radio business, but will also encourage cross-platform exchanges between the media in the two places," said John Tsang, Hong Kong's secretary for commerce, industry and technology.

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