MUMBAI: Star China Media, owned by powerful Chinese media investment fund China Media Capital and media conglomerate News Corporation, has formed a joint venture company with Puji Capital, a Shanghai-based investment and asset management firm with a focus in lifestyle, media, property, and consumer industries.

Puji Star Media, the new joint venture based in Shanghai, will focus on investment and development of international TV content for the Star platform in China.

The venture will invest in internationally inspired TV content and advertising with particular interest in the Americas, Europe, Japan, Korea, and among others tailored for the local Chinese viewers onto the Star TV?s platform including various types of content made for TV and produced for the Chinese market.

Star China CEO Tian Ming said, "Puji?s vast experience in value creation for shareholders coupled with their strong international media network and platforms allows us to be well positioned to the tremendous opportunity that lies ahead for us in the China media market."

Michael Chien from Shanghai and Jotaro Nonaka from Japan, managing partners of Puji Capital, said in a joint statement, "We are honored to partner with Tian Ming and his team who has turned Star TV to a profitable company within a short time with his creativity and solid understanding to capture the passion of Chinese viewers and its commercial value.

"Star China is a very distinctive TV platform that enjoys many content and distribution advantages over its competitors for China market. We believe that Puji Star Media will provide a very unique ?One Stop Gateway? for those who wish to optimize and maximize their business through Star TV?s vast coverage in the China market."

China?s TV market experienced tremendous growth over the past years, with broadcasting revenues increasing $15 billion in 2005 to $37 billion in 2010 and enjoyed a 22 per cent increase in 2011.

The Chinese media, specifically television content, is growing at annual rate of 27 per cent and produced $19 billion of advertising revenue in 2011.