Rumor: Enlight Media Buys Stake in Meituan-Dianping's Movie Ticketing Business
Tech2ipo, 5/23/16
Beijing-based television and film company Enlight Media (300251.SZ) has reportedly completed the acquisition of a stake in online ratings and group buy platform Meituan-Dianping's online movie ticketing service Maoyan Dianying, according to a number of sources familiar with the matter.
Neither Maoyan Dianying nor Enlight Media have commented on the rumors.
Enlight Media suspended trading on April 11, 2016 pending completion of a major outbound investment in the internet arts & culture industry, thought to be between RMB 1-2 bln. On the same day, Meituan-Dianping CEO Wang Xing announced the decision to spin off Maoyan Dianying as an independent company, in an internal company email. Maoyan Dianying would use this new freedom to become a comprehensive film company by joining with a film industry "resource," said the email.
The industry resource in question is likely to be Enlight Media, said an industry insider.
Editor's Note: For more information on this topic, please see "Rumor: Meituan-Dianping to Spin Off Movie Ticketing Business," MD 4/11/16 issue.
Keywords: film Internet television Wang Xing Enlight Media 300251.SZ Meituan-Dianping M&A spin-off online ticketing O2O
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