Shanghai Stock Exchange, 2/27/14
Chinese media company Shanghai Oriental Pearl (600832.SH) has announced that the company's culture industry investment subsidiary Shanghai Oriental Pearl Culture Development has partnered with Japanese mobile marketing and advertising company D2C to establish a joint venture in Shanghai.
The JV will have registered capital of RMB 60 mln, of which RMB 36 mln will be provided by Oriental Pearl Culture for a 60% stake, while D2C will contribute RMB 24 mln for a 40% stake. The JV will be primarily engaged in mobile game development and operation, online broadcast of animated programs, e-commerce platform development and operation, and procurement of broadcast rights for Japanese anime products in China.
D2C was founded in June 2000 as a joint venture between Japanese telecom operator NTT DoCoMo and Japanese advertising and media company Dentsu Group, and is engaged in mobile gaming, app development and operation, and mobile ad sales and marketing.
In January, Oriental Pearl acquired a 20% stake in Shanghai-based online game developer and operator The9's (Nasdaq: NCTY) US gaming subsidiary Red 5 Studios for USD 24 mln.
Editor's Note: For more background on this topic, please see "Oriental Pearl to Acquire 20% Stake in Red 5 Studios" MD 1/24/14 issue.