: As it looks likely that a 13-year ban on foreign video game consoles in China may be relaxed soon
, Microsoft is looking to capitalize on the move by forming a new multi-million dollar games venture in the country.
Microsoft and BesTV New Media, a subsidiary of Shanghai Media Group, have formed a new $79 million outfit according to Bloomberg
, as both companies look to explore the new console and entertainment opportunities in China.
The new venture will look to design and develop games for China, while also acting as a publisher for third-party titles in the area. A filing seen by Bloomberg apparently says that the investment from both companies will reach $237 million.