Microsoft (MSTF.NASDAQ) announced plans to develop “family games and related services” in China with BesTV New Media (600637.SH), The Wall Street Journal reported, citing a statement made on the Shanghai Stock Exchange website. BesTV, a Chinese internet TV company and subsidiary of Shanghai Media Group, will have a stake of 51% in the project and Microsoft will have 49%. According to the statement, the new venture will be set up in the new Shanghai free trade zone but no other details have been announced. Video game consoles have been outlawed in China since 2000 but the ban could be lifted within the zone.
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