BesTV, CNTV Establish IPTV JV
Shanghai Stock Exchange, 5/18/13
In a May 18 public filing, Shanghai Media Group subsidiary BesTV New Media (600637.SH) announced that it has established an IPTV joint venture with China Central Television (CCTV)'s national online TV station CNTV. The new JV, called "Aishang Dianshi Media" (literally, "Fall in Love With TV"), has registered capital of RMB 50 mln, of which RMB 27.5 mln, or 55%, comes from CNTV. With its investment of RMB 22.5 mln, BesTV holds 45% of the JV.
The company will reportedly be responsible for operating the commercial services of China's sole centralized national integrated IPTV broadcast and control platform.
Keywords: Shanghai Media Group IPTV television CCTV BesTV JV 600637.SH CNTV
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