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在线翻译:
szdaily -> Business_Markets -> 
Alibaba, Tencent lead $1.5b investment in CMC
    2018-07-04  08:53    Shenzhen Daily

MEDIA group CMC Inc. said yesterday it raised around 10 billion yuan (US$1.49 billion) in a fundraising round from investors including tech giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd.

CMC Inc., with one half of the CMC media empire that spans from sports to amusement parks, said the A-round fundraising was led by the two Chinese tech firms along with new investors such as property developer China Vanke Co.

CMC Capital Partners is the other half of the larger CMC group, founded by media magnate Li Ruigang. Li is often portrayed as China’s version of Australian media mogul Rupert Murdoch, the head of News Corp.

CMC group is a major force in China’s entertainment and media sectors and has big global ambitions. It has a stake in the owner of English Premier League team Manchester City and a joint venture with Hollywood studio Warner Brothers Entertainment.

“With the tech revolution driving ongoing change in how people consume content, the global media and entertainment industries are going through a new round of adjustment and change,” CMC’s Li said.

The investment came as more tech companies are seeking tie-ups with State firms under China’s mixed-ownership reforms. Telecom group China Unicom raised US$11.7 billion from a dozen investors including Alibaba and Tencent last year.

(SD-Agencies)

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