Sohu IT, 8/04/11
Cheng Hongrong, assistant to the GM of Hunan Broadcasting System subsidiary Kuaile Yangguang Interactive Entertainment Media, has disclosed that the company received approval from China's State Administration of Radio, Film and Television (SARFT) to develop an Internet TV broadcast and control platform, and officially received China's fifth Internet TV content service and Internet TV integrated service licenses in late July.
Kuaile Yangguang has signed agreements with several television manufacturers, Cheng said, including Skyworth Digital Holdings (0751.HK) and Haier, to partner on internet TV sets. In addition to providing content, Kuaile Yangguang is also researching TV payment and TV advertising systems, among other value-added services.
Cheng added that Kuaile Yangguang had invested roughly RMB 30 mln to date in bandwidth, programming content, and equipment, building a library of more than 70,000 hours of internet TV content from Hunan TV & Broadcasting and other film and television production companies, as well as a large collection of content licensed from video rights distributors.
Cheng also revealed that Kuaile Yangguang was currently in the process of preparing for an IPO. When asked whether Kuaile Yangguang would list independently or along with parent company Mango Media, Cheng said that the internet TV operator would follow the plans devised by Mango Media parent Hunan Broadcasting System.
Keywords: Cheng Hongrong Mango Media convergence regulation TV advertising broadcasting rights content IPO license television Internet TV SARFT Haier Skyworth TV payment 0751.HK Hunan Broadcasting System Kuaile Yangguang TV set