Culture, media investments hit record in 2013
Equity investment in the Chinese culture and media sector in 2013 reached a six-year high, and more such merger-andacquisitions will be made this year, a report from ChinaVenture Group said.
Private equity and venture capital investors injected $3.4 billion into the sector in 2013, a 372 percent year-on-year rise, though the number of deals fell from 69 in 2012 to 32 last year.
The movie and music sector was the most active in 2013 with eight deals. The animation and publishing sector followed closely. The biggest investment deal was from a consortium of private equity firms led by Carlyle Group. It closed a $3 billion leveraged buyout of Shanghaibased digital advertising agency Focus Media Holding Ltd.