Xinhua Sports & Entertainment Limited (XSEL) was a Chinese media company which was delisted in 2011, as well as the arrest of top management of the firm. The company was known as Xinhua Finance Media Limited until 2009.
In 2007 the state-owned enterprise
Xinhua News Agency
Xinhua News Agency (English pronunciation: ),J. C. Wells: Longman Pronunciation Dictionary, 3rd ed., for both British and American English or New China News Agency, is the official state news agency of the People's Republic of China. It is a ...
even declared that they have no relation with XSEL's parent company
Xinhua Finance.
In 2013 Fredy Bush, former CEO was jailed.
History
Xinhua Finance Media Limited was incorporated in the Cayman Islands on 7 November 2005. The company was listed in NASDAQ in March 2007.
On March 2, 2009, Xinhua Finance Media has changed its name to "Xinhua Sports & Entertainment Limited" (XSEL).
In 2011, follow the exposure of the real financial condition of the company which ended as liquidation,
Lynn Tilton
Lynn G. Tilton (born April 22, 1959) is an American businesswoman and collateralized loan obligation (CLO) creator, owner and manager. She is the chief executive officer and sole principal of Patriarch Partners, LLC and its affiliated entities, ...
sued former friend and CEO of XSEL, Fredy Bush, for fraud.
References
External links
Xinhua Finance Media official websiteXinhua Sports & Entertainment official website
{{DEFAULTSORT:Xinhua Sports and Entertainment
Mass media companies of China
Companies formerly listed on the Nasdaq
Companies based in Beijing