China will invest Billions of dollars setting up Media giants

While Media companies expect revenue growth to come from China over the coming years the Chinese government is planning to accelerate that process.

“China plans to spend billions of dollars in the next few years to develop media and entertainment companies that it hopes can compete with global giants like the News Corporation and Time Warner, and will in the process loosen some of its tight control of these industries.”

via China Hopes to Create Its Own Media Empires – NYTimes.com.