HNA Group has invested $185m in sports streaming platform Le Sports as part of a round that could end up topping $1bn, showing how online companies are helping China's media sector rapidly grow.
The $185m investment by conglomerate HNA Group in China-based sports streaming platform Le Sports last week illustrates how China’s media sector is continuing to expand as the growth of e-commerce helps fuel a desire for content.
HNA, a diversified conglomerate best known for its HNA Aviation activities, supplied half the money via its HNA-Caissa Travel subsidiary and the other half through a fund advised by its private equity unit, HNA Capital. It now holds a 5.9% stake and invested…
