Phoenix Satellite Television, which is known as the “CNN of China” and is 17.6 per cent-owned by Rupert Murdoch’s News Corp, has signed a long-term deal to sell content to China Mobile. The deal could result in HK$100 million (US$13 million) in annual profit, about half what the company makes now reports DNA. “China’s media is getting more and more diverse and new media — though a small part of the overall pie — but it has massive potential,” the tall, tanned executive, who will turn 56 this year, said in an interview in Hong Kong. “It’s not a lot of money in the greater scheme of things, but the China Mobile deal involves nearly no capital cost as well. It’s a huge factor for our earnings growth.” I’m not sure what kind of content is being mooted — China Mobile doesn’t have 3G or mobile TV networks yet, although they’ll be built soon, and the article sounds like Phoenix expects profit this year.
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