AsiaInfo Services
06-08-2011
Huace Film to Obtain 55% Stake in JV Entertainment
XI'AN, Jun 08, 2011 (SinoCast Daily Business Beat via COMTEX) -- Zhejiang Huace Film & TV Co., Ltd. will buy a 35% stake in Xi'an JY Entertainment from the latter's existing shareholders and invest an additional CNY 50 million in the latter to obtain a total of about a 55% stake in the Xi'an-based company.
Founded in 2010, Xi'an JY, which is positioned to be China's most promising digital entertainment publisher, reaped net profits of CNY 9.9865 million and CNY 7.4903 million in 2010 and the first quarter of 2011. The net profits are predicted to arrive at CNY 20 million, CNY 30 million, and CNY 36 million in the following three years from 2011 to 2013.
Statistics compiled by iResearch show the size of China's online video market hit CNY 3.14 billion in 2010 and has grown to CNY 1 billion by the first quarter of 2011. The growth trend has been very robust in recent years. Huace Film has a higher penetration rate to the TV channel issuance, and the growth space of the future TV distribution business will be more from the new media channels.
Source: www.stcn.com (June 08, 2011)
KEYWORD: XI'AN INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Media
Motion Pictures/Sound Recording
SinoCast China Business Daily news
film
TV
digital entertainment
stake
net profit
Copyright 2011 AsiaInfo Services (via Comtex). All rights reserved
No comments:
Post a Comment