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New Classics Media

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2020

    China Literature Fined RMB 500,000 for Failure to File Concentration in New Classics Media Acquisition; New Classics Misses Performance Commitment

    In December 2020, the State Administration for Market Regulation determined that China Literature's acquisition of 100% equity in New Classics Media constituted a concentration of undertakings not filed in accordance with law, violating the Anti-Monopoly Law, and fined China Literature RMB 500,000. After the acquisition, New Classics Media failed to meet its performance commitment, causing China Literature to record significant goodwill impairment and a loss. Status: administrative penalty. Entities involved: China Literature, New Classics Media Group Co., Ltd. Scope: China Literature's acquisition of New Classics Media.

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