Chinese media entrepreneur Bruno Wu is dealmaking again. The mogul is hooking up with Thomas Middelhoff, the former CEO of Bertelsmann and German holding company Arcandor, to combine assets into alternative investment joint venture BT Capital. The new vehicle will be announced today, The Financial Times reports. BT Capital will combine the parties’ existing media interests in education, music, news and other resources. The heart of the business will be Wu and wife Yang Lan’s film and TV businesses which have grown in the past nearly two years. BT Capital will also make private equity investments in TV, film, Internet and other businesses both in China and elsewhere. One target is a TV production company that specializes in formats, the partners said. Lan, known as the ‘Oprah of China’ will be a director.

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