China’s second-largest media group, Shanghai Media, is planning to bow a 24-hour English-language news channel to reach out to global auds.
Shanghai Media has been in talks with media and culture regulators for at least a year and is likely to win approval by the end of the year, according to a Reuters report. However, a Shanghai Media spokesman declined to comment, telling Daily Variety that the issue was “sensitive.”
Shanghai Media’s plan has strong support from the Shanghai city government, which owns the firm, and is subject to approval from Beijing regulators.
Net will be China’s second 24-hour TV channel to be broadcast nationwide and completely in English.
Government broadcaster China Central Television already has a news channel, which broadcasts into Asia, Europe and North America by satellite or through deals with local broadcasters.
Shanghai Media operates about 20 TV and radio channels, including 24-hour Chinese-language news and entertainment broadcaster Dragon TV, which is available outside China on satellite.
Its existing broadcast channels already have content partnerships with foreign firms such as CNBC and the Discovery Channel, and Shanghai Media is in talks with other foreign financial and entertainment firms for cooperation with its English channel. Equity deals with foreign firms are unlikely due to the tight grip Beijing keeps on domestic media.