China Allows U.S. Investment in TV

China will let foreign investors take stakes in TV production companies for the first time, widening access for Viacom Inc., Walt Disney Co. and other media firms in the world’s biggest TV market by viewers.

The new policy, to take effect Nov. 28, will allow foreigners to own as much as 49% of entertainment programming ventures. Ventures must use “China themes” in two-thirds of programs.

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* The Bush administration is following through on a threat to drop the Dominican Republic from a free-trade pact with five Central American countries because of its new tax on soft drinks made with corn sweeteners, U.S. Trade Representative Robert Zoellick said in a letter to Congress.