SMG to merge two units

State-owned media conglomerate Shanghai Media Group (SMG) plans to combine its two listed new media arms, according to announcements posted by the two listed companies Tuesday.

BesTV New Media Co and Shanghai Oriental Pearl (Group) Co would be merged, while other cultural assets are also expected to be injected into the entity, said the announcement.

This move has been seen as a response to the government's call for new media groups.