Media - More movements at the Shanghai front

Purely by accident, I started to write about the changes in the Shanghai Daily yesterday. And purely by accident I can read today in the Financial Times interesting details about what is going on. Important developments, I would say.
"In another example of overseas interest in the Chinese media market, interests associated with Kerry Stokes, owner of Australia's Seven Network, have been advising the state-owned Shanghai Daily on its editorial and business management," writes the FT. "Bob Cronin, a former senior media executive in Western Australia, Mr Stokes' home state, is working in the municipal government-controlled English language newspaper as an adviser on daily news."
Of course everybody is still in denial when it comes to the question of foreign investments in this state-owned paper. Peter Zhang, the chief editor, explains that such would not be possible at this stage.
The FT continues: "However, Mr Stokes could be able to invest in an advertising and management company separate from editorial to provide services to the paper, as a number of foreign companies have done....Mr Stokes has growing interests in China, as the authorised distributor for Caterpillar products in nine provinces and as adviser to Beijing on telecasting the 2008 Olympics."