Shopping Broadcaster Finds a Financial Channel

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(Beijing) - After years of twists and turns, Hunan's provincial broadcaster Golden Eagle Broadcasting (GEB) has finally found a straight market path to resolving fund-raising and restructuring challenges.

The winning ticket was an agreement for outside investment in Happigo, the broadcaster's TV shopping subsidiary.

On March 31, Happigo pulled in 330 million yuan in financial support from three private equity (PE) funds – Hony Capital, CITIC Industrial Fund, and Sequoia Capital. Their four-sided agreement marked the first, major PE investment in a Chinese broadcaster.