Time Warner's (TWX) AOL has signed a deal with State-owned Shanghai Media Group to develop and broadcast Chinese content to a worldwide Chinese-language audience.

Shanghai Media Group's broadband unit is currently one of the only licensed companies able to provide IPTV services in China.

MediaZone, who already has worked with AOL to develop the American company's Chinese-language website, will participate in the venture.

On February 13, 2006 AOL launched the first beta version of its new Chinese language AOL.com web portal tailored to serve the needs of the Chinese American and Chinese speaking community in the United States.