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.).


 
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Andrew EisenI hope Star Wars hooks me at some point. I'd love to be a fan again.05/06/2015 - 8:54pm
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Goth_SkunkI know. :P05/06/2015 - 8:13pm
Andrew EisenGoth - Great. Just don't be a dick about it! (not aimed at you)05/06/2015 - 8:13pm
Matthew Wilson@goth do it in a reasonable manner thought. do not harass her.05/06/2015 - 8:13pm
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Andrew EisenMatt - Hell, sometimes minorities (peoples, opinions, whatever) themselves are just so damn scary to a number of the majority that they get marginalized whether there were so called bad actors or not.05/06/2015 - 8:09pm
Mattsworknamemechacrash, my point was that groups get marked by the actions of minoritys among them. as andrew points out, this isn't just feminist or gg, it's universal due to the wide spread use of social media05/06/2015 - 8:07pm
Andrew EisenI meant there's nothing wrong with having that opinion, not that it's completely unassailable. It's certainly not.05/06/2015 - 8:07pm
Andrew EisenOf course she does. She's linked to several of them.05/06/2015 - 8:05pm
Goth_SkunkI'm disagreeing with your statement that there's nothing wrong with the opinion. And I certainly am NOT fine with her opinion. I'm fine with her right to say it.05/06/2015 - 8:05pm
 

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