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Chinese Businessman Buys Out Troubled UK Satellite Station

Ye Maoxi, a Chinese business owner of the Xijing Group from Wenzhou, Zhejiang Province bought out a troubled UK satellite station named “Propeller.”

According to China News, Propeller was the first European digital satellite station to broadcast programs that contain original productions only. The station was established in February 2006 and currently has coverage in dozens of European countries. It was awarded the “best satellite television station in Europe” in Venice, Italy in November 2008. The station lost its funding from the government in the midst of the economic crisis and was eager to find a strategic investor. Ye learned about this opportunity while he was accompanying Wen Jiabao on his visit to Europe at the beginning of the year, and finally closed the deal six months later. Ye plans a major makeover and hopes to turn the station into a platform for domestic businesses and to increase its exposure overseas.

Prior to this, Wang Weisheng from Wenzhou also purchased a television station in the Emirates and has been airing programs since August 1, 2006.

Source: Zhejiang News, July 13, 2009