Shanda to Form Online Entertainment Co with CNTV
Tencent Tech, 3/15/10
Chinese internet company Shanda Interactive (Nasdaq: SNDA) and CCTV's national online TV station CNTV have announced a comprehensive strategic partnership to form a jointly operated company to develop online games.
According to the cooperation framework, the two companies' cooperation will span online video, games, movies, literature, music, wireless and online platforms, and will also include content creation, technical support, and licensing cooperation. The pair will focus particularly on online game development, operation, and promotion.
Chinese online video site Ku6 will play a main role in the two companies' cooperation on online video. Shanda will cooperate with CNTV on major sporting events and popular television programs, will participate in technical cooperation, and will work with CNTV to develop and protect copyrights on joint video products.
Shanda Literature will work with CNTV on electronically published reading material, and on sharing popular literature content. Shanda subsidiary Hurray (Nasdaq: HRAY) will work together with CNTV in the music industry via cooperation with artists, creation of a music archive, and content licensing. Huaying Shengshi, a joint venture established in November 2009 by Shanda and Golden Eagle Broadcasting System (GBS) with RMB 600 mln in capital, will cooperate with CNTV on the production of movie, television, and arts and entertainment content, and on seeking out online video content.
Another Shanda subsidiary, copyright distributor Sunshine Media (Shengshi Jiaoyang), will work with CNTV in copyright sharing and purchasing. Shengshi Jiaoyang recently won the new media broadcast rights to the newest remake of "Dream of the Red Chamber."
Keywords: online music Huaying Shengshi Sunshine Media Shanda Internet wireless online video Ku6 Shanda Literature SNDA Hurray HRAY CNTV online literature online gaming
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