Star China Media
{{short description|Chinese media company; subsidiary of China Media Capital}}
{{About|the Chinese company owned by China Media Capital|Disney+'s general entertainment brand owned by The Walt Disney Company|Star (Disney+)}}
{{Infobox company
| name = Star China Media
| logo = Image:Star China.svg
| logo_size = 250px
| logo_caption = Logo used since 2001
| former_name = Star Greater China (4 July 1991–31 May 2010)
| image = Jiefang Daily building at 300 Hankou Road-20220828145811.jpg
| image_caption = Headquarters in Shanghai
| trading_name =
| type = Public
| traded_as = {{SEHK|6698}}
| industry = Media
| founded = {{Start date and age|1991|07|04|df=yes}}
| founder = Star TV
| defunct =
| hq_location = 1211-1212, Jiefang Daily Tower, No.300 Hankou Road
| hq_location_city = Huangpu District, Shanghai
| hq_location_country = China
| key_people = {{ubl|Tian Ming (CEO)|Cao Zhigao (COO)}}
| products = {{unbulleted list|Television broadcasting|Television production|Films}}
| brands =
| production =
| production_year =
| services =
| revenue =
| revenue_year =
| operating_income =
| income_year =
| net_income =
| net_income_year =
| aum =
| assets =
| assets_year =
| equity =
| equity_year =
| parent = China Media Capital
| members =
| members_year =
| num_employees =
| num_employees_year =
| divisions =
| subsid = Canxing Media
Fortune Star
| module =
| website = {{url|https://www.fortunestarentertainment.com/}}
| footnotes =
| coordinates =
}}
{{Chinese
| title = Star China Media
| s = 星空华文传媒
| t = 星空华文传媒
| p = Xīngkōng huá wén chuán
| l = Xing Kong Wen Media
}}
Star China Media ({{Lang-zh|s=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.{{cite web|url=http://www.globalmediajournal.com/open-access/the-role-of-the-nationstate-evolution-of-star-tv-in-china-and-india.pdf|archive-url=https://web.archive.org/web/20170809222642/http://www.globalmediajournal.com/open-access/the-role-of-the-nationstate-evolution-of-star-tv-in-china-and-india.pdf|url-status=live|title=The role of the nation-state: Evolution of STAR TV in China and India|archive-date=2017-08-09}}
= 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.Palmer, Rhonda. (26 July 1993) [https://www.variety.com/article/VR108977.html?categoryid=18&cs=1 Murdoch catches rising Star – Entertainment News, Business News, Media]. Variety. Retrieved 20 May 2012.[https://query.nytimes.com/gst/fullpage.html?res=9F0CE7DA153EF930A1575BC0A965958260 THE MEDIA BUSINESS; Star TV Extends Murdoch's Reach]. New York Times (23 August 1993). Retrieved 20 May 2012. Murdoch declared that:{{cite web | last=Monbiot | first=George | title=George Monbiot: The most potent weapon wielded by the empires of Murdoch and China | website=The Guardian | date=21 April 2008 | url=https://www.theguardian.com/commentisfree/2008/apr/22/chinathemedia.rupertmurdoch | access-date=24 July 2017}} {{blockquote|"(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."[https://web.archive.org/web/20090827015316/http://www.newscorp.com/news/news_423.html News Corporation Restructures Broadcast Businesses in Asia]" (press release) News Corporation 18 August 2009 Archived from the [http://www.newscorp.com/news/news_423.html original] on 27 August 2009Watkins, Mary; Li, Kenneth "[https://www.ft.com/content/646058d4-8bd4-11de-b14f-00144feabdc0 News Corp announces Star TV shake-up]" Financial Times August 19, 2009
=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).Young, Doug "[https://www.reuters.com/article/us-newscorp-china/news-corp-sells-controlling-stake-in-china-tv-channels-idUSTRE67810L20100809 News Corp sells controlling stake in China TV channels]" Reuters August 9, 2010Chu, Karen "[https://www.hollywoodreporter.com/news/news-corp-sells-chinese-language-26422 News Corp. sells Chinese-language channels to CMC]" Associated Press August 9, 2010 (via The Hollywood Reporter)Coonan, Clifford "[https://variety.com/2010/biz/markets-festivals/china-media-capital-buys-star-china-1118022740/ China Media Capital buys Star China]" Variety August 9, 2010 Xing Kong (both domestic and international versions) and Channel V Mainland China, plus Fortune Star film library were in the sale, 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)."[https://www.businesswire.com/news/home/20140102005296/en/Star-China%E2%80%99s-Management-Team-China-Media-Capital 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, 2014Patnaik, Sampad "[https://www.reuters.com/article/us-fox-divestment/21st-century-fox-sells-star-china-tv-stake-idUSBREA010CC20140102 21st Century Fox sells Star China TV stake]" Reuters January 2, 2014{{cite web|last1=William|first1=Christopher|title=Rupert Murdoch gives up on China with sale of Star China TV|url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/10547453/Rupert-Murdoch-gives-up-on-China-with-sale-of-Star-China-TV.html|website=The Telegraph|date=2 January 2014 |publisher=Telegraph UK|accessdate=20 July 2014}} 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.{{cite news |title=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"？ |url=https://finance.ifeng.com/c/8MBWGtdKvtY |accessdate=2023-01-02 |work=Daily Economic News}}
Owned channels
See also
References
{{Reflist}}
External links
- [http://www.xingkong.com.cn/ Xing Kong]
- [http://www.canxingmedia.com/ Canxing Media]
- [http://www.fortunestarentertainment.com/ Fortune Star]
- [https://www.aastocks.com/share/news/aafn/NOW.1286568?lang=eng STAR CM (06698.HK) Collapses Over 23% as Alleged Coco Lee's Recording Online Slams 'The Voice of China']
{{Star TV}}
Category:Mass media companies of China
Category:Television production companies of China
Category:Mass media companies established in 1991
Category:2021 initial public offerings
Category:Companies listed on the Hong Kong Stock Exchange