China fund takes control of Spanish football TV rights giant
A Chinese investment fund has taken control of Spanish media giant Mediapro, best known for owning television rights to the Spanish and Italian football leagues, as Chinese investors widen their global media and sports interests.
Orient Hontai Capital bought a 53.5 percent stake in Imagina, a holding company that includes Mediapro, which also produces films and series, and Globomedia, another media producer, for one billion euros ($1.2 billion).
The agreement gives Orient Hontai control over lucrative international television distribution rights for Spain's La Liga, as well as the Italian league's domestic TV rights.
Stefan Szymanski, professor of sport management at the University of Michigan and co-author of the book "Soccernomics," said this was "part of a continuing trend toward Chinese involvement in media".
"As Chinese incomes grow there will be increased demand for entertainment content and Chinese companies will be well placed to present that content in such a way that it maximises the appeal of the content to Chinese viewers."
Read the full article from AFP by Marianne Barriaux here: https://www.msn.com/en-sg/news/world/china-fund-takes-control-of-spanish-football-tv-rights-giant/ar-BBJe915?li=BBr8Mkh