3 January 2014 5:09 AM, PST | Deadline TV | See recent Deadline TV news »

Twenty-First Century Fox is divesting of its stake in Star China TV. China Media Capital’s management team and Cmc itself will acquire Fox’s 47% stake for an undisclosed sum. The company, which was already majority owned by Cmc, operates three 24-hour Mandarin-language channels and the Fortune Star Chinese movie library. James Murdoch, Deputy COO, Chairman & CEO of International for 21st Century Fox said the sale was part of a “broader agenda” to streamline “affiliate ownership structures.” In other words, Fox is looking to get out of companies in which it cannot have a majority position, Bloomberg notes. (Last January, Fox increased its holdings in German pay-tv group Sky Deutschland from 49.9% to 54.5% and is believed to still be keen on reviving an aborted attempt to acquire the part of BSkyB it does not already own.) Cmc chairman Ruigang Li said the Star China deal marked “a new era” China Media »

- NANCY TARTAGLIONE, International Editor

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