Sumavision Increases Stake in TV Production Subsidiary

Shenzhen Stock Exchange, 10/23/12

Beijing-based digital video and IPTV system provider Sumavision (300079.SZ) issued a public filing today announcing that it intends to invest RMB 80 mln in Beijing-based TV programming production subsidiary Wanmei Xingkong Media for use in TV series productions and investments. The investment will increase Sumavision's share of Wanmei Xingkong from 90% to 98%. Sumavision's plans call for its TV programming business to contribute RMB 10 mln, 20 mln, and 30 mln in revenues, respectively, over the next three years.

Wanmei Xingkong Media was established in February 2012 with a registered capital of RMB 20 mln, 18 mln of it from Sumavision.

Keywords: TV content production Wanmei Xingkong investment television Sumavision 300079.SZ

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