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July 14, 2009

Chinese businessman buys Propeller


by David Allen

A businessman from China has bought Propeller, the Yorkshire based satellite based TV channel, with a view to using it as a platform to promote China in Europe.

Ye Maoxi, the chairman of the advertising company Xiking Group, took over Propeller after an exhaustive round of talks that are said to have lasted around six months.

Propeller is a non profit channel that broadcasts through Sky TV.

It was launched in 2006 with an estimated £5.2 million worth of publically funded investment.

The satellite channel has been looking for a partner to come in, due to the fact that it has been suffering from the current financial crisis.

The plan is to produce programmes that promote Chinese culture, brands and business, and it is possible that some of these programmes will even be broadcast in Chinese.

Story link: Chinese businessman buys Propeller


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