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 By investing in and then becoming the single largest shareholder of China Cable Network Co., Ltd. (“CCN"), the unique nation-wide and multi-system cable TV operator ("MSO") with highest number of subscribers, China Cable Media Group Limited (“CCMG") began its investment in the PRC cable industry in 2003. The total investment of CCMG is RMB502 million. It holds 33.3% shareholding stake in CCN. CCMG has four directors in CCN’s Board. As at 31 March 2009, CCN owned cable networks in more than 10 cities, including certain wealthy areas in Yangtze River Delta, like Jiangsu and Zhejiang, etc. It had over 3.22 million subscribers and its registered capital reached to RMB1.33 billion. CCN recorded total revenue and a net profit of RMB823 million and RMB70.26 million as at 31 March 2009 respectively. Currently, CCMG is developing its co-operation with some PRC broadcasting group companies in the area of TV contents.
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