CNBC Joins Hands with Shanghai Media Group

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Last updated at: (Beijing Time) Friday, April 11, 2003

CNBC Joins Hands with Shanghai Media Group

The U.S. business TV channel CNBC Asia Pacific signed an agreement here Thursday to set up a strategic partnership with the Shanghai Media Group.

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The U.S. business TV channel CNBC Asia Pacific signed an agreement here Thursday to set up a strategic partnership with the Shanghai Media Group.

The Shanghai Media Group will provide Chinese business news for CNBC's television network, while CNBC will provide international business news for the financial channel of the Shanghai TV Station under the Shanghai Media Group, the agreement said.

The Shanghai TV Station will produce two news programs for CNBCat noon every day beginning April 14 of this year.

The Shanghai Media Group also plans to air a CNBC program aboutmanagers in Asia on its financial channel.

China is the most dynamic market in the Asia-Pacific region, said Alexander Brown, president and chief executive officer of CNBC Asia Pacific.

The Shanghai Media Group will be a perfect partner for the company in China's financial center, Shanghai, he added.

It will be a win-win situation for the two sides, said Li Ruigang, president of the Shanghai Media Group, which consists of TV stations, radio stations, newspapers and web sites, and whose assets total 10.7 billion yuan (1.29 billion US dollars).

CNBC Asia Pacific, headquartered in Singapore, is a subsidiary of Dow Jones & Company and of the U.S. television network NBC.

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