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Chinese company acquires British TV channel

(chinadaily.com.cn)
Updated: 2009-07-13 13:19

Chinese businessman Ye Maoxi has bought over Britain's Propeller TV, local media reported Sunday.

Ye, president of the Beijing-headquartered private enterprise Xiking Group, confirmed Saturday his group had "completely acquired" Propeller TV, the first digital satellite television channel in Europe to screen 100% new and original programming.

The channel was launched in February 2006.

Ye said at the start of this year he knew that Propeller could not get financial support from the government in the wake of the economic crisis and urgently required strategic investors.

Ye hails from the Wenzhou city of east China's Zhejiang province, a place known as the hometown of businessmen. His Xiking Group engages in businesses of advertising, culture, printing, manufacturing and real estate.

"Propeller TV will have programs introducing China and Wenzhou in the future," Ye told reporters last Saturday during his visit to Portugal.

"We may also have programs broadcast in Chinese, if possible," he added.

Another Wenzhou businessmen Wang Shengwei purchased a state-owned TV station in the United Arab Emirates (UAE) in 2006.

In France, three Wenzhou men and a Cambodian planned to establish a radio station called "Radio Mandarin d'Europe". The French authorities approved their application in May, making it the first Chinese broadcasting station in France.

Experts believe Wenzhou traders' inclination toward introducing China's culture is playing a role in boosting the country's cultural influence in the world.