http://news.xinhuanet.com/english/china/2013-09/23/c_132743885.htm

SHANGHAI, Sept. 23 (Xinhua) -- A Shanghai media company said on Monday that it plans an entertainment development venture with Microsoft.

The company will have a registered capital of 79 million U.S. dollars.

BesTV New Media Co., Ltd, said in a bulletin posted on the Shanghai Stock Exchange, that it will hold a 51 percent share and Microsoft 49 percent in the joint venture, initially named E-Home Entertainment Development.

The joint venture will develop games and related services, said BesTV.

The new company's board chairman will be chosen by BesTV and the chief executive officer by Microsoft.

The total investment of both sides will reach 237 million U.S. dollars.

The joint venture is expected to be registered in the newly established pilot free trade zone in Shanghai.

BesTV, a subsidiary of Shanghai Media Group, boasts 18 million IPTV subscribers with its businesses in China, southeast Asia and eastern Europe.

Looking forward to VGChartz tracking of chinese sales.

Is that even possible?  It seems that it is tough to track anything in China.

Xbox TV China?

18 million subs with china in the mix seems ike not much... then again I guess a lot of peeps not living in the big metro area don't have TV or at least not IPTV

Already biggest in China

I don't expect VGChartz to accurately track Xbox 360 or Xbox One when/if they sell in China.

Microsoft has formed a joint venture with Shanghai media giant BesTV to launch a new games device offering streaming entertainment services into China.

The companies posted a note on the Shanghai Stock Exchange today outlining the new operation, which will launch with an initial investment of $237 million. Unconfirmed reports in the Chinese media stated that the new operation would launch a console based on Xbox technology called Bestpad.

BesTV manufactures and sells electronic products including smart TVs as well as offering entertainment services. It holds Chinese TV rights for major properties like the English Premier League.

Games console manufacturers have been seeking a way into the Chinese market since the government there lifted a long-standing ban on the import and sale of consoles. The new joint-venture will launch in the newly established free trade zone in Shanghai.

"This is the first step of many to come for Microsoft and BesTV," a spokesperson for Microsoft told Polygon. "We look forward to exploring new opportunities for bringing entertainment offerings to China, but we have no further details to share."

http://www.polygon.com/2013/9/23/4763650/microsoft-forms-chinese-console-venture

This could be enormous! China has a rapidly expanding middle class. Plus, it is an enormous market, if they can make it work.

Not to self, perhaps buy Microsoft stock? (If I had any extra money, sigh.)