News Corp to Sell Part of Stake in Hong Kong's Phoenix TV
MSNBC reported that News Corp will sell more than half its shares in Phoenix Satellite Television, its Hong Kong-based Chinese television joint venture, in a move that would reduce Rupert Murdoch's influence in China's tightly controlled media market. News Corp, which currently owns a 38 percent stake in Phoenix, would sell just under 20 percent of the company to Beijing-based China Mobile, the state-controlled wireless service provider. China Mobile is expected to pay over $1 billion HKD for the shares, which would make it the second-largest shareholder in Phoenix.
Verizon to Offer Wholesale Customers a Triple Play Option
Verizon Communications and DIRECTV signed an agreement that will enable Verizon wholesale customers to sell a package of voice, DSL, and DIRECTV services that is designed to offer an alternative to cable "triple play" offers. Under the agreement, competitive telecoms that use Verizon's Wholesale Advantage voice service and selected high-speed data services can also receive DIRECTV service and sell all three services to consumers at what Verizon is calling a competitive price. Verizon expects to make the bundle available to wholesale customers in July. Wholesalers must buy Verizon's Wholesale Advantage voice services to qualify for the package discount. Larger local telecoms such as BellSouth and AT&T have tried to market the same bundle of services, and some are still doing so, with very limited success.
Motorola to Invest $100 Million in Indian Mobile Market
Motorola announced that it would invest $100 million USD in India in stages to boost sales in one of the world's hottest mobile markets. The company said that it would initially invest $30 million to develop a unit to make handsets and base stations in a special economic zone on the outskirts of the southern city of Chennai. The remaining $70 million will be invested in two stages to try to increase its market share in a market that adds four million mobile subscribers every month.
from Telecom Daily
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