Tsinghua acquires 40% of BesTV
March 5, 2008
BesTV, China’s largest provider of IPTV, has agreed to sell a 40 per cent stake to Chinese PC maker Tsinghua Tongfang for 150 million yuan (E13.9m). BesTV, a Web TV service run jointly by Shanghai Media Group and fixed-line telecoms carrier China Telecom Corp, said in a statement Tsinghua’s strong market position would help expand BesTV’s reach.
After allying with SMG, the two parties will jointly work as operators and this will upgrade Tsinghua Tongfang’s business to a new stage where it will begin focusing more on IPTV services.