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<p ALIGN="CENTER">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549<br>
__________________<br>
<br>
FORM 8-K<br>
<br>
CURRENT REPORT<br>
<br>
</b>PURSUANT TO SECTION 13 OR 15(d) of the<br>
SECURITIES EXCHANGE ACT OF 1934<br>
__________________<br>
<br>
Date of Report (Date of earliest event reported): September 20, 2010<br>
<br>
<u><b>CHINA MEDIA GROUP CORPORATION<br>
</b></u>(Exact Name of Registrant as Specified in Charter)</font></p>
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    <td WIDTH="37%" VALIGN="BOTTOM"><font SIZE="3"><u><b><p ALIGN="CENTER"><br>
    Texas</b></u></font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><u><b><p ALIGN="CENTER">5813</b></u></font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><u><b><p ALIGN="CENTER">75-3016844</b></u></font></td>
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    <td WIDTH="37%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">(State or other
    jurisdiction</font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">(Commission</font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">(IRS Employer</font></td>
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    <td WIDTH="37%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">of incorporation)</font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">File Number)</font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">Identification No.)</font></td>
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    <td WIDTH="32%" VALIGN="bottom" height="18"></td>
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    <td WIDTH="65%" VALIGN="BOTTOM" HEIGHT="42"><font SIZE="3"><u><b><p ALIGN="CENTER">1403
    Wan Chai Commercial Center, 194-204 Johnston Road, Wanchai, Hong Kong</b></u></font></td>
    <td WIDTH="35%" VALIGN="BOTTOM" HEIGHT="42"><font SIZE="3"><u><b><p ALIGN="CENTER">n/a</b></u></font></td>
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    <td WIDTH="65%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">(Address of principal
    executive offices)</font></td>
    <td WIDTH="35%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">(Zip code)</font></td>
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    <td WIDTH="65%" VALIGN="bottom" height="18"></td>
    <td WIDTH="35%" VALIGN="bottom" height="18"></td>
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    <td WIDTH="65%" VALIGN="BOTTOM"><font SIZE="3"><p ALIGN="CENTER">Registrant's telephone
    number, including area code:</font></td>
    <td WIDTH="35%" VALIGN="BOTTOM"><font SIZE="3"><b><p ALIGN="CENTER">+011 852 3171 1208
    (ext. 222)</b></font></td>
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    <td VALIGN="TOP" HEIGHT="37"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    Check the appropriate box below if the Form 8-K filing is intended to simultaneously
    satisfy the filing obligation of the registrant under any of the following provisions:</font></td>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="LEFT"><br>
    [&nbsp;&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)</font></td>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="LEFT"><br>
    [&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)</font></td>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    [&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act(17CFR240.14d-2(b))</font></td>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    [&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17CFR240.13e-4(c))</font></td>
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    <td WIDTH="14%" VALIGN="TOP" HEIGHT="27"><font SIZE="3"><b><p ALIGN="JUSTIFY"><a
    NAME="id_0_3"></a><a NAME="id_0_4"></a>Item 1.01</b></font></td>
    <td WIDTH="86%" VALIGN="TOP" HEIGHT="27"><font SIZE="3"><b><p ALIGN="JUSTIFY">Entry into a
    Material Definitive Agreement</b></font></td>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    On September 20, 2010, China Media Group Corporation (&quot;CMG&quot;), Good World
    Investments Limited (&quot;GWIL&quot;), a wholly owned subsidiary of CMG, and Tidewell
    Limited (&quot;Tidewell&quot;) entered into a Sale and Purchase Agreement (&quot;SP
    Agreement&quot;) for GWIL to acquire 100% equity interest in Jademan International Limited
    (&quot;Jademan&quot;), an investment holding company incorporated in Hong Kong, from
    Tidewell for a total purchase consideration of US$250,000, of which US$50,000 shall be
    paid by the issuance of a 6% per annum interest bearing promissory note and the remaining
    balance of US$200,000 shall be paid by the issuance of 10,000,000 shares in CMG. This SP
    Agreement is subject to GWIL's satisfactory due diligence.</p>
    <p ALIGN="JUSTIFY">In accordance with the SP Agreement, Tidewell is also entitled to
    receive an additional 10,000,000 shares in CMG when Jademan's subsidiary, China Integrated
    Media Corporation Limited (&quot;CIMC&quot;), a public company incorporated in Australia,
    is successfully being approved for quotation on the Australian Stock Exchange or any other
    internationally recognized exchange within 9 months from the date of completion of the SP
    Agreement (&quot;Completion Date&quot;). In addition, Tidewell is entitled to performance
    shares calculated at 4 times the Jademan's consolidated annualised earnings before income
    tax for the first two years from the Completion Date less US$250,000 at a share issue
    price discounted at 18% of the then 15 days average closing price of CMG shares quoted.</p>
    <p ALIGN="JUSTIFY">Jademan's primary asset is its 69% interests in CIMC, which is in the
    business of digital signage media and provisioning of contents and content management for
    Internet Protocol Television (IPTV) in China.</p>
    <p ALIGN="JUSTIFY">Tidewell is owned as to 49% by Mr. Con Unerkov, Chairman of CMG.</p>
    <p ALIGN="JUSTIFY">The SP Agreement is attached hereto in Exhibit 10.1. </font></td>
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    <td WIDTH="14%" VALIGN="TOP" HEIGHT="30"><font SIZE="3"><b><p ALIGN="JUSTIFY"><br>
    Item 3.02</b></font></td>
    <td WIDTH="86%" VALIGN="TOP" HEIGHT="30"><font SIZE="3"><b><p ALIGN="JUSTIFY"><br>
    Unregistered Sales of Equity Securities</b></font></td>
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    <td VALIGN="TOP" HEIGHT="20"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    In connection with the transaction described in Item 1.01 of this Current Report on Form
    8-K, the Company shall issue to Tidewell 10,000,000 shares of its common stock as part of
    the consideration for the purchase of&nbsp; the 100% equity interest to Jademan.</font></td>
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    <td WIDTH="14%" VALIGN="TOP" HEIGHT="22"><font SIZE="3"><b><p ALIGN="JUSTIFY"><br>
    Item 9.01</b></font></td>
    <td WIDTH="86%" VALIGN="TOP" HEIGHT="22"><font SIZE="3"><b><p ALIGN="JUSTIFY"><br>
    Financial Statements and Exhibits</b></font></td>
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    (a)</font></td>
    <td WIDTH="86%" VALIGN="top"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    Not applicable</font></td>
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    <td WIDTH="14%" VALIGN="top"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    (b)</font></td>
    <td WIDTH="86%" VALIGN="top"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    Not applicable</font></td>
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    <td WIDTH="14%" VALIGN="top"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    (c)</font></td>
    <td WIDTH="86%" VALIGN="top"><font SIZE="3"><p ALIGN="JUSTIFY"><br>
    Exhibit No. Description - See table below.</font></td>
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    <td WIDTH="14%" VALIGN="top" height="18"></td>
    <td WIDTH="86%" VALIGN="top" height="18"></td>
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    <td WIDTH="16%" VALIGN="TOP" BGCOLOR="#cccccc"><font SIZE="3"><b><p ALIGN="LEFT">Exhibit</b></font></td>
    <td WIDTH="61%" VALIGN="TOP" BGCOLOR="#cccccc"><font SIZE="3"><b><p ALIGN="LEFT">Description</b></font></td>
    <td WIDTH="24%" VALIGN="TOP" BGCOLOR="#cccccc"><font SIZE="3"><b><p ALIGN="LEFT">Location</b></font></td>
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    <td WIDTH="16%" VALIGN="TOP"><font SIZE="3"><p ALIGN="CENTER">Exhibit 10.1</font></td>
    <td WIDTH="61%" VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY">Sale and Purchase Agreement</font></td>
    <td WIDTH="24%" VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY">Provided herewith</font></td>
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<p ALIGN="CENTER">SIGNATURES</b></font></p>
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    <td VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY">Pursuant to the requirements of the
    Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current
    Report to be signed on its behalf by the undersigned hereunto duly authorized.</font></td>
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    <br>
    <br>
    Date: September 22, 2010</font></td>
    <td WIDTH="55%" VALIGN="TOP"><font SIZE="3"><b><p ALIGN="LEFT"><br>
    <br>
    <br>
    CHINA MEDIA GROUP CORPORATION<br>
    <br>
    <br>
    <br>
    </b>By: <i>/s/ Cheng Pheng LOI<br>
    </i>---------------------------------<i><br>
    </i>Name: Cheng Pheng LOI<i><br>
    </i>Title: President</font></td>
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{"company-data": {"conformed-name": "China Media Group CORP", "cik": "0001211211", "assigned-sic": "7310", "irs-number": "320034926", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50431", "film-number": "101083987"}, "business-address": {"street1": "9901 I.H. 10 WEST", "street2": "SUITE 800", "city": "SAN ANTONIO", "state": "TX", "zip": "78230", "phone": "01186755 61657704"}, "mail-address": {"street1": "9901 I.H. 10 WEST", "street2": "SUITE 800", "city": "SAN ANTONIO", "state": "TX", "zip": "78230"}, "former-company": {"former-conformed-name": "DELIGHTFULLY FROZEN CORP", "date-changed": "20021219"}}
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
__________________
Date of Report (Date of earliest event reported): September 20, 2010
CHINA MEDIA GROUP CORPORATION
(Exact Name of Registrant as Specified in Charter)
Texas
5813
75-3016844
(State or other
    jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
1403
    Wan Chai Commercial Center, 194-204 Johnston Road, Wanchai, Hong Kong
n/a
(Address of principal
    executive offices)
(Zip code)
Registrant's telephone
    number, including area code:
+011 852 3171 1208
    (ext. 222)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
    satisfy the filing obligation of the registrant under any of the following provisions:
[   ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act(17CFR240.14d-2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17CFR240.13e-4(c))
Item 1.01
Entry into a
    Material Definitive Agreement
On September 20, 2010, China Media Group Corporation ("CMG"), Good World
    Investments Limited ("GWIL"), a wholly owned subsidiary of CMG, and Tidewell
    Limited ("Tidewell") entered into a Sale and Purchase Agreement ("SP
    Agreement") for GWIL to acquire 100% equity interest in Jademan International Limited
    ("Jademan"), an investment holding company incorporated in Hong Kong, from
    Tidewell for a total purchase consideration of US$250,000, of which US$50,000 shall be
    paid by the issuance of a 6% per annum interest bearing promissory note and the remaining
    balance of US$200,000 shall be paid by the issuance of 10,000,000 shares in CMG. This SP
    Agreement is subject to GWIL's satisfactory due diligence.
In accordance with the SP Agreement, Tidewell is also entitled to
    receive an additional 10,000,000 shares in CMG when Jademan's subsidiary, China Integrated
    Media Corporation Limited ("CIMC"), a public company incorporated in Australia,
    is successfully being approved for quotation on the Australian Stock Exchange or any other
    internationally recognized exchange within 9 months from the date of completion of the SP
    Agreement ("Completion Date"). In addition, Tidewell is entitled to performance
    shares calculated at 4 times the Jademan's consolidated annualised earnings before income
    tax for the first two years from the Completion Date less US$250,000 at a share issue
    price discounted at 18% of the then 15 days average closing price of CMG shares quoted.
Jademan's primary asset is its 69% interests in CIMC, which is in the
    business of digital signage media and provisioning of contents and content management for
    Internet Protocol Television (IPTV) in China.
Tidewell is owned as to 49% by Mr. Con Unerkov, Chairman of CMG.
The SP Agreement is attached hereto in Exhibit 10.1.
Item 3.02
Unregistered Sales of Equity Securities
In connection with the transaction described in Item 1.01 of this Current Report on Form
    8-K, the Company shall issue to Tidewell 10,000,000 shares of its common stock as part of
    the consideration for the purchase of  the 100% equity interest to Jademan.
Item 9.01
Financial Statements and Exhibits
(a)
Not applicable
(b)
Not applicable
(c)
Exhibit No. Description - See table below.
Exhibit
Description
Location
Exhibit 10.1
Sale and Purchase Agreement
Provided herewith
SIGNATURES
Pursuant to the requirements of the
    Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current
    Report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 22, 2010
CHINA MEDIA GROUP CORPORATION
By:
/s/ Cheng Pheng LOI
---------------------------------
Name: Cheng Pheng LOI
Title: President