Shanghai Media Group Gets IPTV Funding From Intel

Shanghai Media Group (SMG), one of China's biggest broadcasters, received a US$12 million investment from Intel to develop its broadband TV service.

The funds will be used to develop and promote the IPTV (Internet Protocol TV) technology of Shanghai Media Group Broadband (SMGBB), the chip maker said. Some money will go to software services and some to product research and development. SMGBB is a wholly owned subsidiary of SMG, and holds the rights to broadcast its television shows online.

The investment in SMG was made by Intel Capital, the chip maker's investment arm, and represents the third investment of its recently announced US$500 million Intel Capital China Technology Fund II. Terms of the investment in were not disclosed.

On Tuesday, Intel announced the fund had invested in Holdfast Online Technology, a provider of hosted gaming services, and Newauto Video Technology, which provides video equipment and integration services for Chinese television stations.

Intel did not disclose the size of those investments.