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.…

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