Li Ruigang Exits President Post at Shanghai Media Group

HONG KONG: Li Ruigang has vacated the post of president of the Chinese media conglomerate Shanghai Media Group (SMG).

Local media has reported that Ruigang was "removed" from the post, with no explanation cited for the move. He is being replaced by Wang Jianjun.

SMG was established in March 2014 through the combination of Shanghai Media & Entertainment Group, Radio and Television Shanghai, and Shanghai Media Group, Inc. Its businesses include 13 radio stations, 15 television channels, 15 digital paid-for channels and eight publications. Li had been chairman of SMG since October 2002. Li currently also holds the position of chairman at China Media Capital, a state-backed fund that invests in private media and entertainment assets.