Phoenix TV
Phoenix Television is a prominent state-aligned broadcaster delivering Mandarin and Cantonese programming to viewers across mainland China, Hong Kong, Macau, Taiwan, and beyond—including via its U.S. arm, Phoenix TV US. Anchored in Shenzhen and with substantial operations in Hong Kong, the network continues to maintain both reach and influence in the global Chinese-language media sphere.
Media assets
Television: Phoenix Chinese Channel, Phoenix Movies Channel, Phoenix CNE Channel, Phoenix Hong Kong Channel, Phoenix TV US
Publishing: Phoenix Weekly
State Media Matrix Typology
Captured Public/State-Managed (CaPu)
Ownership and governance
Founded in 1996 by Liu Changle, a former PLA political officer turned journalist, Phoenix Satellite Television Holdings Ltd. has seen its ownership shift steadily toward Beijing-linked entities. As of 2018, principal shareholders included China Wise International (Bank of China / Central Huijin) with 8.3%, Today’s Asia Ltd. (Liu’s vehicle) with 37.1%, Extra Step Investments Ltd. (via state-owned China Mobile Hong Kong) with 19.7% and TPG China Media with 12.2%. In April 2021, Liu off‑loaded most of his stake to the state-owned Bauhinia Culture and Shun Tak Holdings, positioning Bauhinia Culture as the largest shareholder.
As of March 2025, Bauhinia Culture, backed by the Ministry of Finance, remains the dominant shareholder. A November 2024 leasing agreement involving Phoenix’s Beijing facilities further confirms Bauhinia’s embedded influence within corporate decision-making.
Board reshuffles in August 2024 brought in non-executive directors with strong ties to Bauhinia Culture and China Mobile, underscoring the firm grip of state-linked entities over governance.
Source of funding and budget
Phoenix TV’s funding still largely stems from advertising revenue. While state-run enterprises purchase advertising, sometimes referencing shared ownership, the precise proportion has not been disclosed in more recent reports.
Reflecting intensifying competition and rising costs, the 2024 annual report reveals a revenue decline of about 9.4%, with revenues at HK$ 2.235 billion (US$ 286.5 million) and operating costs falling 10.6%. Despite improvements, the group still posted an operating loss of HK$ 245.3 million (US$ 31.4 million), according to data filed by the company.
Editorial independence
Concerns persist regarding Phoenix TV’s editorial autonomy. A former news director, Chung Pong, testified under oath that programming was “subject to the dictates of the leadership of the Central Communist Propaganda Department, the Central Communist Overseas Propaganda Office, and the Ministry of Foreign Affairs”
There is an increasing body of evidence that Phoenix TV adheres to an editorial stance that is aligned with the interests of the Chinese government. In a deposition in the United States, Chung Pong, a former news director at Phoenix TV, stated that the station was “subject to the dictates of the leadership of the Central Communist Propaganda Department, the Central Communist Overseas Propaganda Office, and the Ministry of Foreign Affairs.” In recent years, the station has been the subject of criticism for broadcasting programs that were overtly pro-government.
Phoenix ceased operations in Taiwan several years ago. Regulatory scrutiny, rooted in limits on mainland Chinese investment, forced its exit, underscoring cross-strait sensitivities to media influence.
July 2025