Chinese MMO Creator Buys into TV & Film Businesses

July 29, 2010 -

Beijing-based Perfect World Co. Ltd., an online game operator and developer with titles such as Legend of Martial Arts, Perfect World, Chi Bi and Hot Dance Party, has made investments into two fellow Chinese media companies.

Perfect World will dump 110 million yuan (approximately $16.2 million U.S.) into Beijing Xinbaoyuan Movie & TV Investment Co., Ltd. and an additional 82.3 million yuan (approximately $12.1 million U.S.) into Shanghai Baohong Entertainment and Media Co., Ltd. Both investments were described as majority stakes for the game company.

Both Xinbaoyuan and Baohong—headed up by “renowned” director Zhao Baogang—were labeled as “engaged in the film and television program production and distribution business.” Xinbaoyuan also operates an entertainment agency business, representing over 20 Chinese celebrities.

Chairman and Chief Executive Officer of Perfect World Michael Chi stated, “We believe the expertise, creativity and innovation, and strong reputation of both companies in the film and television industry will bring new, future growth opportunities to our company, while creating synergies with our core gaming business primarily through content generation and co-promotion.”

Both acquisitions are subject to the approval of the shareholders of Xinbaoyuan and Baohong.

In its first quarter ending March 31, 2010, Perfect World reported revenues of 625.0 million yuan (approximately $91.6 million U.S.). Fiscal year 2009 results showed revenues of 2.144 billion yuan (approximately $314.2 million U.S.) and net income of 1.037 billion yuan (approximately $152 million U.S.).


 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
Neeneko@AE - it is still better then Return of Kings. I wonder if they know each other...09/16/2014 - 1:05pm
Neeneko@IanC - well, considering their entire goal is disseminating information, it kinda makes sense.09/16/2014 - 1:04pm
Andrew EisenThat depends on how much longer before YOU start getting good!09/16/2014 - 12:31pm
MaskedPixelanteSo, I've been stuck in the opening section of Dark Souls for about two years now... how much longer before it starts getting good?09/16/2014 - 12:29pm
Michael ChandraI was wondering the same thing while reading it.09/16/2014 - 11:44am
james_fudgeSadly, no.09/16/2014 - 11:17am
Andrew EisenThat's a satire site, like the Onion, right? Please? Please tell me that's a satire site?09/16/2014 - 11:10am
james_fudgehis readers are.09/16/2014 - 10:36am
IanCWikileaks will jump on any agenda for publicity.09/16/2014 - 10:22am
NeenekoWow. This is the first I have heard of the guy. What a jerk.09/16/2014 - 10:14am
quiknkoldmaskedpixelante : Milo Yiannopolous isnt really old.09/16/2014 - 9:57am
MaskedPixelanteBreitbart in a nutshell: Racist old white men saying stupid things.09/16/2014 - 9:54am
james_fudgequiknkold, that's bile. Read the comments and you'll get a taste of that site's audience.09/16/2014 - 9:17am
ZippyDSMleeSo gamer gate will be know as the time all the 13 year old sexist racists assholes came out of the wood work and attacked anything with more brains than themsevles. 0_o09/16/2014 - 9:09am
E. Zachary KnightAwwwww. I feel so special. I have someone on Twitter shaming me for being anti-gamergate.09/16/2014 - 9:06am
quiknkoldhttp://www.breitbart.com/big-hollywood/2014/09/15/the-gamergate-movement-is-making-terrific-progress-don-t-stop-now09/16/2014 - 8:54am
james_fudgeme either.09/16/2014 - 8:54am
E. Zachary KnightI understand what Wikileaks twitter was getting at, but I have no clue what that article was getting at.09/16/2014 - 8:45am
Michael Chandra"You know how game journalists are a corrupt bunch that do shady dealings? Well so are the politicians at the NATO!" #clickbait09/16/2014 - 8:22am
james_fudgeit's simply a case of an org trying to latch onto a hashtag without knowing what it is about.09/16/2014 - 8:07am
 

Be Heard - Contact Your Politician