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<p ALIGN="CENTER"><font face="Arial"><small>UNITED STATES</small><br>
<small>SECURITIES AND EXCHANGE COMMISSION</small><br>
<small>WASHINGTON, D.C. 20549</small></font></p>
</b>

<p ALIGN="CENTER"><small><font face="Arial">__________________</font></small></p>
<b>

<p ALIGN="CENTER"><small><font face="Arial">FORM 8-K</font></small></p>

<p ALIGN="CENTER"><small><font face="Arial">CURRENT REPORT</font></small></p>

<p ALIGN="CENTER"><font face="Arial"><small>PURSUANT TO SECTION 13 OR 15(d) of the</small><br>
<small>SECURITIES EXCHANGE ACT OF 1934</small></font></p>
</b>

<p ALIGN="CENTER"><small><font face="Arial">__________________</font></small></p>

<p ALIGN="CENTER"><small><font face="Arial">March 12, 2008</font></small></p>
<u><b>

<p ALIGN="CENTER"><font face="Arial"><small>CHINA MEDIA GROUP CORPORATION</small><br>
</b></u><small>(Exact Name of Registrant as Specified in Charter)</small></font></p>
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    <td WIDTH="37%" VALIGN="BOTTOM"><u><b><p ALIGN="CENTER"><small><font face="Arial">Texas</font></small></b></u></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><u><b><p ALIGN="CENTER"><small><font face="Arial">000-50431</font></small></b></u></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><u><b><p ALIGN="CENTER"><small><font face="Arial">32-0034926</font></small></b></u></td>
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    <td WIDTH="37%" VALIGN="BOTTOM"><p ALIGN="CENTER"><font face="Arial"><small>(State or
    other jurisdiction</small><br>
    <small>of incorporation)</small></font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><p ALIGN="CENTER"><font face="Arial"><small>(Commission</small><br>
    <small>File Number)</small></font></td>
    <td WIDTH="32%" VALIGN="BOTTOM"><p ALIGN="CENTER"><font face="Arial"><small>(IRS Employer</small><br>
    <small>Identification No.)</small></font></td>
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    <td WIDTH="37%" VALIGN="BOTTOM"></td>
    <td WIDTH="32%" VALIGN="BOTTOM"></td>
    <td WIDTH="32%" VALIGN="BOTTOM"></td>
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    <td WIDTH="69%" VALIGN="BOTTOM" HEIGHT="49"><u><b><p ALIGN="CENTER"><font face="Arial"><small>Room
    1403, 14/F., 194-204 Johnston Road, Wan Chai Commercial Centre, Wan Chai, Hong Kong</small></b></u><br>
    <small>(Address of principal executive offices)</small></font></td>
    <td WIDTH="31%" VALIGN="BOTTOM" HEIGHT="49"><u><b><p ALIGN="CENTER"><font face="Arial"><small>n/a</small></b></u><br>
    <small>(Zip code)</small></font></td>
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    <td WIDTH="69%" VALIGN="BOTTOM"></td>
    <td WIDTH="31%" VALIGN="BOTTOM"></td>
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    <td WIDTH="69%" VALIGN="BOTTOM"><p ALIGN="CENTER"><small><font face="Arial">Registrant's
    telephone number, including area code:</font></small></td>
    <td WIDTH="31%" VALIGN="BOTTOM"><p ALIGN="CENTER"><small><font face="Arial">011 852 3171
    1208 (Ext. 222)</font></small></td>
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    <td WIDTH="69%" VALIGN="BOTTOM"></td>
    <td WIDTH="31%" VALIGN="BOTTOM"></td>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><small><font face="Arial">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></small></td>
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    <td WIDTH="8%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">[ ]</font></small></td>
    <td WIDTH="92%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></small></td>
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    <td WIDTH="8%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">[ ]</font></small></td>
    <td WIDTH="92%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></small></td>
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    <td WIDTH="8%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">[ ]</font></small></td>
    <td WIDTH="92%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act</font> <font face="Arial">(17</font>
    <font face="Arial">CFR</font> <font face="Arial">240.14d-2(b))</font></small></td>
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    <td WIDTH="8%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">[ ]</font></small></td>
    <td WIDTH="92%" VALIGN="TOP" HEIGHT="35"><p ALIGN="JUSTIFY"><small><font face="Arial">Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act</font> <font face="Arial">(17</font>
    <font face="Arial">CFR</font> <font face="Arial">240.13e-4(c))</font></small></td>
  </tr>
</table>
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size="1" width="100%">
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    <td WIDTH="15%" VALIGN="TOP"><b><small><font face="Arial">Item 1.01</font></small></b></td>
    <td WIDTH="85%" VALIGN="TOP"><u><b><small><font face="Arial">Entry into a Material
    Definitive Agreement</font></small></b></u></td>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Arial"><br>
    <small>On March 12, 2008, a wholly owned subsidiary of China Media Group Corporation, a
    Texas corporation (&quot;CMG&quot;), Ren Ren Media Group Limited (&quot;RRMG&quot;) has
    entered into a memorandum of understanding (&quot;MOU&quot;) with Premium AG Sdn. Bhd.
    (&quot;PAG&quot;) to investigate the opportunity and the establishment of a joint venture
    company (&quot;JV Company&quot;) in the outdoor advertising market in China.</small></font></td>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Arial"><br>
    <small>PAG is a Malaysian corporation that is in the business of outdoor advertising in
    Malaysia with approximately 80 billboards large and medium in size selling to
    internationally renowned customers. </small></font></td>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Arial"><br>
    <small>According to the MOU, the parties will initially work together to investigate a
    market study and analysis of the outdoor advertising business opportunity in China and to
    investigate the possibility of a joint venture between PAG and RRMG to operate this
    business. The business opportunity will be the outdoor advertising business including and
    not limited to outdoor billboards, light boxes and signs, drawing on the expertise and
    resources of each party.</small></font></td>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Arial"><br>
    <small>The equity in the JV Company shall be based on the contribution by each party.
    However, RRMG shall at all times have greater than 51% of the equity interest in the JV
    Company. Details of the equity structure and operational matters to be finalized/agreed by
    the Parties when JV Company is established.</small></font></td>
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<p ALIGN="CENTER"><small><font face="Arial">SIGNATURES</font></small></p>
</b><div align="center"><center>

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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><small><font face="Arial">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></small></td>
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    <td WIDTH="53%" VALIGN="TOP" height="18"><small><font face="Arial">Date: March 12, 2008</font></small></td>
    <td WIDTH="47%" VALIGN="TOP" height="18"><b><small><font face="Arial">CHINA MEDIA GROUP
    CORPORATION</font></small></b></td>
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    <td WIDTH="47%" VALIGN="TOP" height="15"></td>
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    <td WIDTH="47%" VALIGN="TOP" height="15"></td>
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    <td WIDTH="53%" VALIGN="TOP" height="18"></td>
    <td WIDTH="47%" VALIGN="TOP" height="18"><small><font face="Arial">By: <i>/s/ Con Unerkov</i></font></small></td>
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    <td WIDTH="47%" VALIGN="TOP" height="15"><font size="2" face="Arial">---------------------------------</font></td>
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    <td WIDTH="53%" VALIGN="TOP" height="15"></td>
    <td WIDTH="47%" VALIGN="TOP" height="15"><small><font face="Arial">Name: Con Unerkov</font></small></td>
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    <td WIDTH="53%" VALIGN="TOP" height="18"></td>
    <td WIDTH="47%" VALIGN="TOP" height="18"><small><font face="Arial">Title: President</font></small></td>
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    <td WIDTH="53%" VALIGN="TOP" height="15"></td>
    <td WIDTH="47%" VALIGN="TOP" height="15"></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": "08682436"}, "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 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
__________________
March 12, 2008
CHINA MEDIA GROUP CORPORATION
(Exact Name of Registrant as Specified in Charter)
Texas
000-50431
32-0034926
(State or
    other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
Room
    1403, 14/F., 194-204 Johnston Road, Wan Chai Commercial Centre, Wan Chai, Hong Kong
(Address of principal executive offices)
n/a
(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
(17
CFR
240.14d-2(b))
[ ]
Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act
(17
CFR
240.13e-4(c))
Item 1.01
Entry into a Material
    Definitive Agreement
On March 12, 2008, a wholly owned subsidiary of China Media Group Corporation, a
    Texas corporation ("CMG"), Ren Ren Media Group Limited ("RRMG") has
    entered into a memorandum of understanding ("MOU") with Premium AG Sdn. Bhd.
    ("PAG") to investigate the opportunity and the establishment of a joint venture
    company ("JV Company") in the outdoor advertising market in China.
PAG is a Malaysian corporation that is in the business of outdoor advertising in
    Malaysia with approximately 80 billboards large and medium in size selling to
    internationally renowned customers.
According to the MOU, the parties will initially work together to investigate a
    market study and analysis of the outdoor advertising business opportunity in China and to
    investigate the possibility of a joint venture between PAG and RRMG to operate this
    business. The business opportunity will be the outdoor advertising business including and
    not limited to outdoor billboards, light boxes and signs, drawing on the expertise and
    resources of each party.
The equity in the JV Company shall be based on the contribution by each party.
    However, RRMG shall at all times have greater than 51% of the equity interest in the JV
    Company. Details of the equity structure and operational matters to be finalized/agreed by
    the Parties when JV Company is established.
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: March 12, 2008
CHINA MEDIA GROUP
    CORPORATION
By:
/s/ Con Unerkov
---------------------------------
Name: Con Unerkov
Title: President