sports

Alibaba and Tencent are making huge bets on China’s sports broadcasting industry that was once dominated by LeEco and Sina. But they are unlikely to be profitable in the short term.

Chinese consortium buys a controlling stake in MP & Silva in a deal valuing the global sports media rights agency at $1 billion, according to one person familiar with the matter.

Co-founder and vice-chairman Liu Hong on the fast-growing firm’s global ambition to build an integrated media and telecommunications ecosystem.

LeEco's sports arm exceeds expectations with its Rmb8 billion ($1.23 billion) Series-B round of funding, more than septupling its valuation in just 10 months.

After spending a record amount on the broadcasting rights for China’s top football division, Li Ruigang is looking overseas, where he already owns a stake in Manchester City.

Franshion Properties sells $250 million worth of shares of which 60% are new, while management shareholders in China Dongxiang attempt to offload $110 million worth of shares.

The placement comes a week after the Chinese apparel maker reported an 86% boost in 2008 profits.