Beijing - Internet TV service Joost has partnered with Hong Kong's TOM Group to launch a localized version of its service in China with 16,000 hours of content, Variety reported. TOM will sell ads against the local content, which has been licensed from providers including CCTV, China Record Corp, BTV Media, CAV Warner Home Entertainment and Huayi Brothers Media Group.

Hong Kong - Hong Kong-based digital media firm TOM Group announced on Monday that it will pay about $200 million to take its TOM Online mobile content distribution arm private.