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Chinese Version of ‘The Voice’ Rocked by Allegations of Unfairly Treating Late Star
The producer of the “The Voice of China” saw its stock tumble by the most on record after a viral video of allegations that a deceased pop star was unfairly treated during her time on the popular televised singing show.
Star CM Holdings Ltd. tumbled 23%, the most since its listing in December. The drop wipes out about $1.5 billion in market value from the stock, which had more than quadrupled at its peak.
The selloff comes after a nine-minute clip surfaced on Chinese social media platform Weibo allegedly showing Hong Kong singer Coco Lee talking about her time on the reality program, which is like the U.S. show “The Voice” based on a hit Dutch series. The Hong Kong-born entertainer, who had charted hits in places as far away as the U.S. and Australia, starred on “The Voice of China” as a mentor to competing singers.
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