Viacom first to invest in TV content

US media conglomerate Viacom announced that it will produce content for Chinese television via a production company planned with Shanghai Media Group. Viacom's investment will be one of the first foreign investment in Chinese television content since recent loosening of restrictions on such investment. Viacom's minority stake in the joint venture will allow it to produce content to be distributed in Shanghai and other mainland markets. Viacom reached a second agreement with China Central Television to broadcast two shows from Viacom's Nickelodeon children's network and produce related content for a mainland viewership.