Tom.com, Softbank plan music site with top China cadre
By Bloomberg, CNET News.com
Monday, April 24 2000
HONG KONG--Tom.com Ltd, an Internet site controlled by tycoon Li Ka-shing, and Softbank Investment International (Strategic) Ltd, a unit of Japan and Asia's biggest Internet investor, will invest in a talent-search Web site.
The site will let Asian musicians audition for record contracts online, the South China Morning Post reported, citing unnamed sources.
Other investors include Tetsuya Komuro, a producer with Japanese record label avex tracks, and Ye Xuanping, vice chairman of the Chinese People's Political Consultative Conference.
The paper said the most significant aspect of the deal may be the involvement of Ye, a former governor of prosperous Guangdong province, since it demonstrates the extent of Li's and Softbank's official connections in China.
Tom.com closed Thursday at HK$6.50 (S$1.42), off its record high of HK$14.30 (S$3.12) set on March 3.
hongkong1.cnet.com |
