Cul­ture, me­dia in­vest­ments hit record in 2013

China Daily (Canada) - - NEWSCAPSULE -

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.

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