Bruno Wu, the Chinese media investor, and Thomas Middelhoff, the former Bertelsmann and Arcandor chief executive, are pooling assets with revenues of $1bn-$2bn into a new media and investment joint venture focused on China.
Mr Wu and his wife Yang Lan, the television presenter and entrepreneur known as China’s Oprah Winfrey, will announce their plan today to create “the first China-originated global media and alternative investment group” with Mr Middelhoff.
They are forming BT Capital more than a decade after their first joint venture plan was killed off when Bertelsmann, the German media group, ousted Mr Middelhoff, who will have a “significant minority” shareholding in the new company.
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