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Shanghai Media Group forms IPTV joint venture

BesTV New Media, a subsidiary of China’s Shanghai Media Group, has formed an IPTV joint venture with CNTV, the online TV service operated by broadcaster China Central Television, according to local reports.

Bejing-based Marbridge Consulting reports that the new joint venture is called ‘Aishang Dianshi Media’ (‘Fall in Love With TV’), and has registered capital of CNY 50mn (US$ 8mn), of which 55% comes from CNTV and 45% from BesTV.

The company will be responsible for operating the commercial services of China’s only centralised national integrated IPTV broadcast and control platform, according to the reports.

China is believed to have accounted for a fifth of the world’s 84mn IPTV subscribers by the end of 2012, according to US firm Pyramid Research, with growth in the country being driven by a rising base of broadband subscribers and the expansion of fibre networks.

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