China Mobile To Buy Stake In HK’s TV Station, For Mobile Video

China Mobile, one of the big operators in China, will buy a major stake (about 20 percent) in Phoenix Satellite TV from News Corp. for more than HK$1 billion ($130 million), according to reports…News Corp. currently owns 38 percent of Phoenix Satellite.
The deal would help China Mobile to offer TV content to mobile phone users as it launches 3G phone services.

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