Shanghai Media Group plans spin-offs in bid to reform
Shanghai Media Group, China's second-largest broadcaster, is planning to spin off several units and list them over the coming two years, in an ambitious push for further reform of the country's state-owned media. The group, which is controlled by the Shanghai municipal government and had revenues of Rmb6bn ($875m) last year, was now seeking to introduce private equity investors in several of its businesses and take some public later.