Li Ruigang removed as chairman of Shanghai Media Group

Li Ruigang has been removed from chairman of Shanghai Media Group on Jan 5, 2014. [Asianewsphoto/Gao Erqiang]

A document by the Shanghai Municipal Government on Monday confirmed the removal of Li Ruigang as chairman of Shanghai Media Group, domestic media reported.

The notice, dated December 28, states that Li is to be removed from his post and replaced by Wang Jianjun but gave no reasons for the decision.

Li had been chairman of SMG since October 2002.

State-owned SMG currently owns and operates 13 radio stations, 15 television channels, 15 digital paid for channels and eight publications, according to SMG’s website.

Late March last year, SMG went through a series of organizational restructuring including the merging of the Shanghai-listed subsidiaries BesTV New Media Co and Shanghai Oriental Pearl Group. On Nov 22, Li addressed an audience at a networking event for the investors of the merger.

Li currently also holds the position of chairman at China Media Capital, a State-backed fund that invests in private media and entertainment assets.