media - Beijing Media sees trouble grow

The Hong Kong listed domestic media conglomerate Beijing Media suspended trade on the stock exchange, writes the Shanghai Daily. Once the single and most successful example of a Chinese media company going public, it has now returned into the opposite. The media industry still is different from other industries in China.
Beijing Media found a way out of the condrum how to avoid the state-control on the media, by focusing on selling advertisements for the Beijing Youth Daily, not unlike the construction the Shanghai Daily has developed.
Last December it earned USD 116 million by going public at the Hong Kong stock exchange. Corruption charges caused a dive in the share value and accusations of fraud are being investigated.