Remember Joost? Created by the founders of Skype, Joost has now started building a joint venture in China; teaming up with the Hong Kong-based TOM group, it will show mainly content from production companies around China.

Joost will also become a subdomain in China, at joost.tom.com, and will contain 16,000 of content from many companies including CCTV, China Record Corp, BTV Media and Huayi Brothers Media Group.

TOM Group will handle all advertising on the service, while Joost will provide the underlying technology. The group is majority controlled by Li Ka-shing, a billionaire made from businesses in shipping and in telecommunications.

As well, through different companies and trusts, Li also has a stake in Joost and Facebook.

Source: Variety Asia