Content Media acquires Chinese media producer Alive Group
US media distributor Content Media Corp has purchased Beijing producer Alive Group to tap into China's growing television market. The financial terms of the said deal were not disclosed, according to Broadcast.
Content Chief Executive Officer John Schmidt said of the transaction: "Content's worldwide production and distribution business will now include a wholly owned subsidiary operating directly in the Chinese market. The growth of the Chinese television market, the emergence of the OTT operators and explosive growth in Chinese box office revenue are all elements that make China the most compelling entertainment market in the world today."
Under the terms of the said deal, Alive will be taken from Seven Stars, which will also put a direct equity investment into Content. In addition, Seven Starts chief Bruno Wu will become Content's chairman of the board, with Seven Stars' Alex Cherepakhov as a non-executive director. Content will then use Alive to distribute its TV shows and movies to the Chinese market, Deadline detailed.
Among the participants in the equity investment are Jeff Sagansky and Franz von Auersperg, non-executive directors of Content, Schmidt, and other management personnel, the report added.