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Microsoft Buys Small Stake in Chinese Electronics Maker

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Microsoft will pay about 94 million yuan ($12.3 million) for a one percent stake in Sichuan Changhong Electric, a major maker of TV and electrical appliances in China…the two companies will cooperate to develop, make and market TVs, computers and other digital home-entertainment products, reports Reuters. Part of the proceeds from the share sale will be invested in the project, called “Media Galaxy.” “The project will research, produce and market digital entertainment products to link home computers, television and the Internet,” the company said.