China opens door for AOL Time Warner

For the first time, a U.S. company will be able to operate a
Chinese-language entertainment channel in China, the result of a
historic agreement between AOL Time Warner and the Chinese government
signed in Beijing on Monday.

The agreement also calls for China’s
24-hour English-language news channel to be carried over Time Warner
cable systems in the U.S.

As reported by today’s Los
Angeles Times, Zhao Huayong, president of China Central Television,
said during signing ceremonies that the deal is a “milestone, which has
turned a new page in China’s history.”

AOL chief Gerald Levin called it
“a landmark agreement which represents a significant step in the growing
relationship between AOL Time Warner and the people of China.”