Australian operator Telstra today announced it has acquired controlling interests in two Chinese media businesses, strengthening its plans to achieve AUD1 billion (US$668 million) in revenue from its Chinese assets by 2013. It has acquired a 67 percent stake in both China M, a mobile content supplier, and Sharp Point, an online music business that counts China Mobile as a customer. Telstra said it will fund the acquisitions from “existing cash facilities.” Financial details of the deals were not disclosed.

In a statement, Telstra CEO Sol Trujillo said the move adds consumer mobile content and music to the operator’s online real estate, automotive and digital device businesses in China. Trujillo talked up the country’s status as the world’s largest online and mobile market, and expects pro forma revenues from China M and Sharp Point for fiscal 2009 to be around AUD100 million. Both companies are EBITDA positive at present.