CNBC in Chinese strategic partnership

US-owned business news broadcaster CNBC Asia Pacific has formed a strategic partnership with Shanghai Media Group, the Financial Times said. Under the deal, a special edition of CNBC's Managing Asia programme would be repackaged by Shanghai Media for broadcasting on its business channel, while the two sides would also prepare segments in Shanghai for broadcast on CNBC's network. The two partners would each pay half the co-operation costs and take 50 per cent of the advertising revenues.