A young Chinese-US company backed by internet group Tencent and two mainland media firms is to buy control of IM Global, a Hollywood film and TV studio.
Tang Media Partners, created by Donald Tang, a businessman, has joined CMC and Huayi Brothers to buy the studio from the Reliance group of Anil Ambani, the Indian businessman.
Mr Tang, a former head of Bear Stearns in Asia, is also partnering with IM Global and Tencent to form a TV joint venture that will include Reliance and produce and distribute television content.
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