AOL looks to sell China holding

US media group AOL Time Warner is in talks to sell a controlling stake in its Chinese television station to
Tom.com, which is controlled by Hong Kong tycoon Li Ka-shing, the Financial Times
said.
The possibility of a link between the two companies was first mooted earlier this
year when it was seen more as a partnership. The sale now under negotiation would mean
that AOL was effectively giving up its foothold in the mainland market after its Chinese
Entertainment Television had won landing rights in Guangdong province.