Star Group Ownership Shift

On the 9th August, CHINA MEDIA CAPITAL (CMC) announced it would acquire a controlling stake in numerous parts of Star Group Limited. These are the Star Chinese Channel, the International Channel, Channel V as well as Fortune Star. It is said that the performance of Star Group over the past ten years has proven to James Murdoch just how important it is to find a partner with sound knowledge of the local market, and that this time, by using those who have better understanding of the policies and the environment, Mr. Murdoch may be able to obtain better results. Li Ruigang, the new corporations?chairman, will take office after this deal. Aside from this post, Mr Li is also the director of Shanghai Radio & TV Station and the President of Shanghai Media Group (SMG), which is one of main stakeholders of CMC and LP. He will be cooperating with Gao Qunyao, CEO of the new corporation (and also the CEO of Star Group Limited of China) to turn the New Star onto a better track.