Chinese firm Orient Hontai is set to purchase a majority stake in Spain's sports rights group Imagina - also known as Mediapro - for $$1 billion. Imagina owns the distribution rights to the La Liga soccer championship. The move follows a pattern of investors from China buying up sports and entertainment assets abroad. However, the deal has yet to be authorised by the Beijing government, which has recently been cracking down on foreign soccer investments.
Chinese firm Orient Hontai is set to purchase a majority stake in Spain's sports rights group Imagina - also known as Mediapro - for $1bn. Imagina owns the distribution rights to the La Liga soccer championship. The move follows a pattern of investors from China buying up sports and entertainment assets abroad. However, the deal has yet to be authorised by the Beijing government, which has recently been cracking down on foreign soccer investments.