China to consolidate 5 media companies into one "modern financial media group"

 The state-run Xinhua news agency said in a notice on Thursday, China is considering plans to consolidate 5 media companies into one, under the banner - China Fortune Media Corporation Group, Reuters reports.

Following is the list of five companies said to merge into one:

China Securities Journal

Shanghai Securities News

Economic Information Daily

Xinhua Publishing House

Xinhua news agency noted, the move aims at "deepening the central authority's reforms of the cultural system" and "increasing mainstream media's influence in the area of financial information."