HONG KONG, June 2, 2016 - (ACN Newswire) - Huanxi Media Group Limited ("Huanxi Media" or "the Group;" stock code: 1003) announced today that the Company and Shanghai Jiayu Cultural Investment Limited ("Shanghai Jiayu") have entered into exclusive negotiation to acquire from Shanghai Jiayu the rights of four popular TV programmes as well as rights of future programmes developed by Shanghai Jiayu. If the proposed transaction is consummated, it would represent the Group's further expansion of its media business into TV programming.
Pursuant to the memorandum of understanding ("MOU") signed by the two parties on 1 June 2016, in the coming 60-day exclusive period, the parties will negotiate to reach an acquisition agreement to acquire certain assets beneficially owned by Shanghai Jiayu, including the copyrights of four popular entertainment media programmes in China such as "Top Funny Comedian" and "The Original Comedy Show" as well as "Your Face Sounds Hilarious" and "I'm no Singer", and related advertising business. The Group will form a strategic cooperative relationship with Shanghai Jiayu with Shanghai Jiayu in the production of TV programmes and film.
Introduction of Television Programs
Top Funny Comedian
A celebrity reality competition show broadcasted across China with well-loved actor Wu Xiao Bo hosting Season 1 and teams of top comedians competing. The show has won a strong following of audience since it was shown.
The Original Comedy Show
A large-scale comedy reality show broadcasted across China, it was co-produced by Joy Entertainment and Dragon Television in 2014. By gathering talented "grass-root drama" performers around the country, the show not only succeeded in discovering the best comedians, but also brings laughter to the audience.
Your Face Sounds Hilarious
Zhejiang Satellite TV will air this new comedian contest show in the last quarter this year, with comedy superstars Feng Xiao Gang and Guo De Gang leading opponent teams. With famed comedians as coach, the teams will be nurtured and shine on stage and audience will witness the birth of a new generation of comedians in China.
I'm no Singer
A new television progamme soon to be launched by Dragon Television, the best performer in the lip sync battle will win. Many superstars have been invited to join this unprecedented music battle.
About Huanxi Media Group Limited
Huanxi Media Group Limited is principally engaged in the media and entertainment, advertising agency, property agency and related services and securities trading and investment businesses. Mr. Dong Ping, the Group's Chairman and the producer of "Crouching Tiger Hidden Dragon" the Academy Award winner for Best Foreign Language Film, is among the first film producers in the movie investment sector in China. "Devils on the Doorstep" and "Peacock" produced by him won the "Grand Jury Prize" and the Silver Bear Award at the Berlin International Film Festival respectively. His recent movies included "Let the Bullets Fly", "Dearest", "Journey to the West", "Breakup Buddies" and "Lost in Hong Kong" made the highest box office record in their respective year of premiere. Under the leadership of Mr. Dong Ping and director shareholders including Mr. Xu Zheng and Mr. Ning Hao, Huanxi Media continues to expand into the entertainment culture, films and TV drama production and new media businesses.
Strategic Financial Relations Limited
Joanne Lam Tel: (852) 2864 4816 Email: [email protected]
Sophie Du Tel: (852) 2114 4901 Email: [email protected]
Sea Ding Tel: (852) 2114 4911 Email: [email protected]
Fax: 2527 1196
Source: Huanxi Media Group Limited
Topic: Press release summary
Sectors: Film & Video, Broadcast, Film & Sat, Daily News, Advertising
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