telecom - China Mobile buys into Phoenix TV

China Mobile is moving heavily into content as a preparation for the roll out of 3G mobile phones later this year. Hong Kong media report it has will buy this week a major stake in Phoenix TV, a Chinese language station owned by News Corp of Rupert Murdoch. Costs are estimated to be US$ 180 million.
While the 3G licenses still have to be issued, different parties are trying to secure enough content to offer to the consumers when they have to roll out the system.