Huayi Bros, Tencent Partner on TV Drama Production
The Beijing News, 12/26/11
Chinese film and TV production firm Huayi Brothers (300027.SZ) has revealed that it plans to jointly invest with Chinese internet company Tencent (0700.HK) to shoot two TV dramas in 2012. Huayi Brothers will be responsible for the television broadcast rights and related copyright management, while Tecent will be responsible for new media rights management.
Huayi Brothers and Tencent signed a strategic cooperation agreement on December 22, 2011. Under the agreement, in addition to the joint investment in the two TV dramas, Tencent will also launch a "Huayi Brothers Zone" channel on its website.
Additionally, Huayi Brothers will grant the internet broadcast rights to Tencent for its TV dramas and films, including altogether 800 episodes of original TV dramas, such as "Lianhuan Tao" and "Mulan" (yet to be released), as well as films such as "Ni Zhan" and "LOVE" (yet to be released). The total licensing fee for this content amounts to RMB 122 mln.
Keywords: TV content production content Internet television Tencent TV Drama Huayi Brothers 0700.HK 300027.SZ broadcasting rights
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