A little less than a month ago, Google announced that it might shut down Google.cn and its offices in China.  The search giant may not be giving up on the country entirely, however, as a new report has indicated that it’s part of a group attempting to invest in a large Chinese media and advertising company.

According to George Chen and Melanie Lee, Disney is leading a consortium that includes Google, and said consortium would like to buy a 30 or 40 percent stake in Bus Media for about $100 million.  Negotiations are supposed to be in progress right now.

Such an investment could be a smart move, considering that notable entities like CCB International, China Renaissance Capital Investment, IDG, and the Yangtze Fund have all put some money behind Bus Media.

Bus Media apparently enjoys the support of China’s government, too, as it’s "the exclusive partner of state broadcaster CCTV and the official Xinhua news agency for in-bus media content and advertising."

But that brings us back to the touchy issue of Google, China, and censorship.  Whether Google’s changing its attitude or has found some solution that complements its moral stand remains to be seen.

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