by Chris Wanjek, citing people familiar with the matter.
According to the Journal, Shg, based in Dubai, is also seeking a stake in Google’s new TV and mobile business, with the aim of acquiring more of the company’s existing assets and growing its reach in new markets.
Shg Media was founded by a group of investors including Chinese entrepreneur Wang Jianlin, the former president of Alibaba Group.
Shogu, whose name translates as “the moon,” is a Chinese name that has long been used to refer to the moon and other celestial bodies, particularly those in the southern hemisphere.
The Moon has always been considered an important part of China’s mythology and mythology has often been used as a way to describe the lunar cycle, according the Journal.
It is not known how much money Shogu may be seeking for the venture.
Shoghu is reportedly looking to raise at least $100 billion in total.