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Guangdong TV and radio broadcasters form conglomerate
Last Updated: 2014-04-28 10:01 | CE.cn/Agencies
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As a result of the Chinese government policy which integrated radio and TV broadcasters, Guangdong Television, TVS, and Radio Guangdong, all in Guangdong province, became one entity on April 23, in the hope that they can boost combined revenue to 10 billion yuan (US$1.6 billion) within three years.

The new entity, dubbed Guangdong Broadcast and TV Station, has under its auspices nine radio broadcast frequencies, 13 broadcast TV channels, and 10 cable TV channels.

Southern Media Corporation came into being at the same time, to oversee the operations of the broadcaster, reportedly with a plan to go public in several years, according to an inside source.

The merger will greatly strengthen the clout of Guangdong Television, the province's leading TV operator, in coping with the growing competition from rivals from within and outside the province, such as Shenzhen Cable TV and cable TV broadcasters in Hunan, Jiangsu, and Zhejiang province.

The establishment of provincial mergers between TV and radio broadcasters has become a trend in China sweeping 20 municipalities in China, including Beijing, Shanghai, Jiangsu, Zhejiang, Chongqing, Tianjin, Hunan, Guizhou, Liaoning, Sichuan, Jiangxi, and Anhui. The stations are all put under the leadership of municipal media groups, with annual revenue topping 10 billion yuan in first-tier municipalities.

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