Date
26 September 2017

More listed firms eye media, entertainment targets, paper says

An increasing number of listed companies are seeking to acquire stakes in second- and third-tier media and entertainment companies, hoping to tap into a market that analysts say holds huge growth potential, the National Business Daily reported Monday. Recently, mobile technology company Ourpalm Co. Ltd. (300315.CN) bought shares in H&R Century Pictures Co. Ltd, while caterer Beijing Xiangeqing Co. Ltd. (002306.CN) acquired a majority stake in production house Beijing CCTV Splendid Film and TV Corp. Ltd. At present, Huayi Brothers Media Group Corporation (300027.CN), Beijing Enlight Media Co. Ltd. (300251.CN) and Le Vision Pictures (Beijing) Co. Ltd. are the top three domestic movie companies. The trio contributed 6.33 billion yuan (US$1.03 billion), or around 50 percent of the box office sales of domestic films in 2013, the report said.

– Contact HKEJ at [email protected]

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