From the Guardian, progress in Murdoch’s efforts to enter the China market with MySpace:
News Corporation is applying to the Chinese authorities for an internet-services licence and expects to set up the joint venture in Beijing, according to a report on Reuters.
The IDG-Accel China Growth Fund, managed by venture firm International Data Group Technology Venture Investment, would also own a stake in the joint venture.
If the deal goes through MySpace China could be up and running in a few months. [Full text]
– More reports on this story, via Google News.