The Global Broadcasting Media Group, Novel-Super TV launch The Media Foundation plan
June 2, 2015
In a continued effort to grow the infrastructure and digital television business, China’s Global Broadcasting Media Group (GMG) and Novel-SuperTV (STV) today jointly announced the preliminary plan to launch The Media Foundation, which will provide relevant technological, professional and support services to selected broadcasters and operators in countries part of the “Belt and Road” initiative.
The Media Foundation, will partner with strategic investors from countries along the “Belt and Road”, including merchant banks, financial institutes, broadcasters and broadband network operators. It will also include corporate partnership at a local operational level, as well as incorporate overseas funds and fund of funds (FOF). With China planning to invest nearly US$800 million to improve its terrestrial transmission system this year, The Media Foundation will be an opportune move forward not only for the businesses involved, but also for the industry as a whole.