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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Matthew Wilsonyes it help a sub section of the poor, but hurt both the middle and upper class. in the end way more people were hurt than helped. also, it hurt most poor people as well.04/16/2014 - 12:13am
SeanBJust goes to show what I have said for years. Your ability to have sex does not qualify you for parenthood.04/15/2014 - 9:21pm
NeenekoSo "worked" vs "failed" really comes down to who you think is more important and deserving04/15/2014 - 7:04pm
NeenekoThough I am also not sure we can say NYC failed. Rent control helped the people it was intended for and is considered a failure by the people it was designed to protect them from.04/15/2014 - 7:04pm
NeenekoIf they change the rules, demand will plummet. Though yeah, rent control probably would not help much in the SF case. I doubt anything will.04/15/2014 - 1:35pm
TheSmokeyOnline gamer accused of murdering son to keep playing - http://cnews.canoe.ca/CNEWS/Crime/2014/04/15/21604921.html04/15/2014 - 11:50am
Matthew Wilsonyup, but curent city rules do not allow for that.04/15/2014 - 11:00am
ZippyDSMleeIf SF dose not start building upwards then they will price people out of the aera.04/15/2014 - 10:59am
Matthew Wilsonthe issue rent control has it reduces supply, and in SF case they already has a supply problem. rent control ofen puts rent below cost, or below profit of selling it. rent control would not fix this issue.04/15/2014 - 10:56am
NeenekoRent control is useful in moderation, NYC took it way to far and tends to be held up as an example of them not working, but in most cases they are more subtle and positive.04/15/2014 - 10:24am
PHX CorpBeating Cancer with Video Games http://mashable.com/2014/04/14/steven-gonzalez-survivor-games/04/15/2014 - 9:21am
Matthew Wilsonwhat are you saying SF should do rent control, that has never worked every time it has been tried. the issue here is a self inflicted supply problem imposed by stupid laws.04/15/2014 - 8:52am
E. Zachary KnightNeeneko, Government created price controls don't work though. They may keep prices down for the current inhabitants, but they are the primary cause of recently vacated residences having astronomical costs. Look at New York City as a prime example.04/15/2014 - 8:50am
NeenekoI think free markets are important, but believe in balance. Too much of any force and things get unstable.04/15/2014 - 7:25am
NeenekoWell, the traditional way of keeping prices down is what they are doing, controls on lease termination and tax code, but it will not be enough in this case.04/15/2014 - 7:24am
Matthew WilsonI said that already04/14/2014 - 4:22pm
E. Zachary KnightMatthew, The could also lower prices by increasing supply. Allow high rise apartment buildings to be built to fulfill demand and prices will drop.04/14/2014 - 3:48pm
Matthew Wilsonthe only way they could keep the price's down, would be to kick out google, apple, amazon, and other tech companies, but that would do a ton of economic damage to SF, but I am a major proponent of free markets04/14/2014 - 2:54pm
NeenekoThe community people are seeking gets destroyed in the process, and the new people are not able to build on themselves. Generally these situations result in local cultural death in a decade or so, and no one wins.04/14/2014 - 2:09pm
NeenekoWell yes, that is the 'free market', but the market is only a small piece of a much larger system. The market does not always do the constructive thing.04/14/2014 - 2:06pm
 

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