Just for the record, we want to highlight this Telegraph (UK) story about ad giant WPP investing in China Broadband Capital Partners [via the ever vigilant folks at paidcontent.org]. Here’s an excerpt about Murdoch:
“Co-investors in the China Broadband fund include Rupert Murdoch’s News Corporation, which owns MySpace and holds a stake in the social networking site’s embryonic Chinese operation, and China Netcom, one of the country’s two major state-owned fixed-line operators. PCCW, the Hong Kong-based media group, is also an investor in the fund…China Broadband’s most significant investment to date was its acquisition of a stake in MySpace China, which has yet to be formally launched. A beta version of the site was unveiled in April, and News Corp has not disclosed any details about its performance.”
How can the good journalists at the WSJ and Dow Jones ever hope to really tackle the issues involving Murdoch’s holdings and relationships? They will try, but probably can’t sustain it in the long run. Let’s keep an eye, meanwhile, on News Corp, WPP and the China connection. The Chinese people have a lot at stake about who controls their media future, especially when it combines state control with hyper-commercialization.