The film and music producer has secured $48.9m in series B funding in a round supported by several China-based media companies.
China-based music and film production company Yuehua Entertainment has raised RMB 300m ($48.9m) in a series B round from investors including advertising and marketing firm Gravity Media, China Money Network reported on Thursday.
CMC Capital, a private equity fund backed by the Chinese government and a host of corporates inlcuding Time Warner, WPP and Softbank, also participated in the round.
Yuehua is a music and television producer and distributor that also offers artists’ training and a platform for digital promotion.…