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Rupert Murdoch's plan to buy Time Warner would help the 21st Century Fox chairman make larger inroads in China, a fast-growing market that media moguls are finding hard to crack.Time Warner's board rejected Murdoch's $80 billion offer, but the Fox chairman is expected to continue the chase. The company's Asian revenues, including those in Japan and China, grew by 40 percent, to $2.1 billion, over two years.The pay channel, with a history of hit programs such as "The Sopranos," has around 84 million subscribers outside the United States, beaming its shows into more than 70 countries, and sells programming from HBO and Cinemax into 150 countries.In January, he sold Fox's 47 percent stake in Star China TV, which owns three 24-hour Mandarin channels, and in October sold off Fox's remaining stake in Chinese TV company Phoenix Satellite Television.China's box office last year grew 27 percent, to $3.6 billion, second only to the $10.9 billion million U.S. market.Fox's Hollywood studio last year produced 14 movies, to Warner Brothers' 25 films. Fox has also agreed to co-produce five Chinese-language films with Chinese studio Bona Film Group.
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