Intel (NSDQ: INTC) Capital, which earlier this week launched a new $500 million China-focused fund, will invest $12 million into a unit of Shanghai Media Group for the establishment of an online TV platform. The Shanghai Media Group Broad Band develops online audio and video programming for SMG, which is the second largest media company in China, by revenue. In a statement, via Reuters, SMG President Li Ruigang touted broadband TV as transformative to the broader industry.
-- In the original announcement for the fund, Intel Capital said it had made an unspecified investment in Holdfast Online Technology Co. Ltd., a provider of LAN-based gaming.
By Joseph Weisenthal