BEIJING, June 18 -- Microsoft Corp. is launching a venture with one of China's biggest consumer electronics makers to create entertainment products to link television, home computers and the Internet, the Chinese company announced Monday.

Microsoft is to buy just under 1 percent of Sichuan Changhong Electric Co. for about 94 million yuan (US$12 million; €9.2 million), as part of the partnership, the Chinese company said in a statement issued through the Shanghai Stock Exchange.

The companies will launch a venture called "Media Galaxy" to create multimedia entertainment products, Changhong said.

"The `Media Galaxy' project will research, produce and market digital entertainment products to link home computers, television and the Internet," the company said.