In a public announcement, BesTV New Media stated that its board of directors has made a resolution on a proposal to aqcquire a 35% stake in both the and Funshion Online Tech for a price of USD 30 million (RMB 190 Million) through equity transfer and equity financing. Lunched on Sept. 28, 2005, Beijing Funshion Online Tech, with the registered capital of RMB 20 million, specializes in developing edge-cutting streaming media transmission, content search and dissemination technologies.