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July 3, 2018, 9:39 a.m. EDT

China Media Capital raises $1.5 billion, investors include Alibaba and Tencent

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By Sarah Toy

Chinese state-backed media group China Media Capital Inc. said on Tuesday that it had raised 10 billion yuan, or $1.5 billion, in a series A fund-raising round, according to Reuters. Investors included Alibaba Group Holding Ltd /zigman2/quotes/201948298/composite BABA +0.51% , Tencent Holdings Ltd /zigman2/quotes/207908563/composite TCEHY -0.94% and real estate developer China Vanke Co /zigman2/quotes/203915646/composite CHVKY -21.76% . CMC said the firm was valued at around 400 billion yuan, or approximately $60.2 billion, post-fundraising. The company was founded in 2009 by media tycoon and former Shanghai government official Li Ruigang and has vast entertainment holdings, including large stakes in Hong Kong-based broadcaster TVB and Beijing-based financial news outlet Caixin. It also owns distributor CMC Pictures, production company Gravity Pictures and Pearl Studios, formerly known as Oriental DreamWorks. Alibaba shares have gone up 8.1% so far this year. Tencent shares have fallen 3.7% and China Vanke Co. shares have fallen 16.4%.

/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 90.52
+0.46 +0.51%
Volume: 30.93M
Dec. 5, 2022 4:01p
P/E Ratio
243.53
Dividend Yield
N/A
Market Cap
$230.75 billion
Rev. per Employee
$515,403
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/zigman2/quotes/207908563/composite
US : U.S.: OTC
$ 38.92
-0.37 -0.94%
Volume: 2.96M
Dec. 5, 2022 3:59p
P/E Ratio
13.91
Dividend Yield
0.46%
Market Cap
$361.21 billion
Rev. per Employee
$750,206
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/zigman2/quotes/203915646/composite
US : U.S.: OTC
$ 0.78
-0.22 -21.76%
Volume: 0.00
Nov. 23, 2022 10:40a
P/E Ratio
4.40
Dividend Yield
6.52%
Market Cap
$24.18 billion
Rev. per Employee
$479,902
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