Li Ruigang

China’s CMC buys into CAA

Chinese media investment giant CMC Capital Partners has bought a minority stake in the CAA talent agency in a deal that sees the establishment of CAA China. CMC has taken an unspecified stake in CAA and its chairman, Li Ruigang, will join the board of the agency. The new CAA China unit, which will have […]

Mick Desmond exits IPCN as CMC buys in

China-focused rights business IPCN has secured an injection of capital from Chinese state-backed private equity fund CMC, while former ITV executive Mick Desmond has sold his share in the company and exited the business. The undisclosed investment from CMC, executed through its investment vehicle Gravity, gives it 48.1% of a new holding company, Pegasus. IPCN […]

SMG boss ‘removed’ from role

The group president of Chinese firm Shanghai Media Group, Li Ruigang, has been “removed” from his post, according to local reports. No reason was given for his departure, though he will remain as chairman of the company, which last year officially transitioned from a state-run company to an incorporated business, albeit one still affiliated with […]