Fox in talks for a slice of TikTok, the newsroom of America's youth.
China once shut out Rupert Murdoch, looks like he's getting the last laugh.
Back in the 1990s, Rupert Murdoch set his sights on cracking the Chinese market. He hoped to pave the way for his Hong Kong-based Star TV satellite service, which was already broadcasting Western entertainment across Asia. To curry favor with a largely disinterested Chinese government, News Corp. put the Communist Party newspaper, the People’s Daily, online, dropped the BBC’s news channel from Star, and made a series of investments aimed at developing China’s then-nascent media economy. Rivers of advertising revenue were expected to follow.
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