statham
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http://www.gamesindustry.biz/articles/2013-09-23-microsoft-partners-to-create-chinese-game-consoleMicrosoft and Chinese media company BesTV New Media Co., Ltd, are partnering to bring a new gaming console and streaming device to China. According to Xinhua News, BesTV posted the news on the Shanghai Stock Exchange. The new venture, E-Home Entertainment Development, will be 51 percent owned by BesTV and 49 percent owned by Microsoft. The total investment in the joint venture is $237 million.
Other unconfirmed reports found by Polygon say the new console will be based on Xbox technology and be called the Bestpad. BesTV is China's leading IPTV provider with 18 million IPTV subscribers in China, southeast Asia and eastern Europe. The company just recently acquired the five-year, exclusive broadcast rights for the Premier League.
original source
http://news.xinhuanet.com/english/china/2013-09/23/c_132743885.htm
edit:also
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.