China Digital Unit Gets Paid for Sale of Stake in Super TV

China Digital, provider of cloud-based application platforms to Chinese cable operators, said Wednesday its subsidiary Golden Benefit Technology has received payment amounting to RMB610 million ($88 million), less the previously received deposit, from Changxing Bao Li Rui Xin Technology for its interests in Beijing Super TV.

As agreed, the buyer will have to convert the RMB610 million into U.S. dollars and pay the amount to an offshore account designated by Golden Benefit. Upon doing so, the transaction will be considered completed.