CNBC Asia Pacific is to announce a strategic partnership with Shanghai Media Group (SMG), a deal intended to give the US-owned business news broadcaster a foothold in the fast developing but tightly controlled Chinese television market. For SMG, a state-owned media conglomerate with interests ranging from TV and radio stations to art troupes and football clubs, the link is expected to offer access to CNBC programming and international experience.
The two groups are expected to initially share footage and financial information, with CNBC likely to make content available for SMG to edit into a daily programme to be broadcast on the group’s own business news channel.
CNBC Asia Pacific, which is jointly owned by Dow Jones and General Electric subsidiary NBC, has been keen to build a presence in China, where rapid economic growth and integration with global markets has created strong demand for business information.