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 :

Poll

Have you visited a video game arcade in the last year?:

Shout box

You're not permitted to post shouts.
Matthew Wilsonfirst, that crap is wrong. second, isnt this the 3rd time he has quit?08/22/2014 - 12:11pm
Zenhttp://levelsave.com/phil-fish-polytron-doxxed-phil-fish-quits-gaming-sells-fez-polytron/ , https://pbs.twimg.com/media/Bvnhvz5IIAAAVc5.png:large08/22/2014 - 12:03pm
ZenHere are some links to the story and images. http://playeressence.com/polytron-and-phil-fish-hacked-tons-of-personal-info-leaked/ , https://pbs.twimg.com/media/Bvnx8sQCIAAwumB.jpg:large , https://pbs.twimg.com/media/Bvnj_zmCUAAlYWm.jpg:large08/22/2014 - 12:02pm
ZenSo...Phil Fish was apparently hacked on both his Twitter and the Polytron site along with all of his personal information has been given out in a zip file. He has since closed his Twitter and stated that Polytron and the Fez IP are for sale. He wants out.08/22/2014 - 12:01pm
Papa MidnightThe Verge says the sequel to Flappy Bird is nearly impossible. http://www.theverge.com/2014/8/21/6053297/swing-copters-flappy-bird-sequel08/21/2014 - 12:22pm
SleakerPC-Gamer wrote an article on what's going on with the Minecraft stuff: http://www.pcgamer.com/2014/08/21/minecraft-bukkit-team-lead-tries-to-end-development-but-mojang-steps-in/08/21/2014 - 11:55am
SleakerEVE had a high-profile ban today: http://massively.joystiq.com/2014/08/20/eve-online-lottery-site-somer-blink-shutting-down/#continued08/21/2014 - 10:26am
SleakerBut where have all the Ethics gone?08/21/2014 - 9:08am
Sleaker@EZK - one of the bigger things is that since Mojang has owned Bukkit for 2 years now, people contributing to the project have basically been doing work for them pro-bono. On top of never formalizing support. They hid the fact probably to prevent support08/21/2014 - 9:07am
SleakerIf you've played on a server with mods/plugins, you've almost for sure played on a Bukkit-based server.08/21/2014 - 8:56am
SleakerHere's Bukkit's explanation attempt at shutting down due to EULA changes: http://forums.bukkit.org/threads/bukkit-its-time-to-say.305106/08/21/2014 - 8:55am
SleakerEZK - it's the largest server mod for MC, in actuality without it minecraft for sure would not have been as popular (#1 game now).08/21/2014 - 8:54am
SleakerTo the point that it seems they have completely lost what it means to be for-community, and having transparency. Along with dumping restrictive EULA's onto people.08/21/2014 - 8:53am
E. Zachary KnightWhat is Bukkit and why should I care?08/21/2014 - 8:53am
SleakerMinecraft community exploded again today. Apparently Mojang owns all of Bukkit, and never put out a statement saying as such 2 years ago when they acquired them. I have to say, their transition from indie has been rough.08/21/2014 - 8:52am
james_fudgeThere aren't many left in America08/21/2014 - 1:50am
MechaTama31I sure have. Dorky's barcade in Tacoma, WA.08/20/2014 - 5:56pm
Matthew WilsonI have not been to a arcade in years. I know arcades are still big in japan.08/20/2014 - 5:38pm
Sleaker@AE - Ah no it's called GroundKontrol - I was just referring to it as a Bar-Arcade.08/20/2014 - 4:39pm
Andrew EisenStill looking for confirmation that High Moon Studios (dev behind the PS3/360 versions) isn't working on it.08/20/2014 - 4:38pm
 

Be Heard - Contact Your Politician