DGAP-News
PANTALEON Entertainment AG: Bruno Wu's Sun Seven Stars Media and PANTAFLIX sign strategic partnership for implementing a global VoD-system
DGAP-News: PANTALEON Entertainment AG / Key word(s): Joint Venture |
Bruno Wu's Sun Seven Stars Media and PANTAFLIX sign strategic partnership for implementing a global VoD-system
- German-Chinese-American VoD joint venture
- Target group of retail consumers and business-to-business
- Global availability without territorial restrictions
Shanghai / Hong Kong / New York / Berlin, 16 May 2017 - The Chinese media mogul Bruno Wu and Dan Maag, CEO of German-based PANTALEON Entertainment signed a contract in Shanghai today for
establishing a joint venture in the video-on-demand (VoD) sector. The joint venture combines the global resources and expertise of Bruno Wu's Sun Seven Stars Media Group Network with companies
like Wecast Network Inc. (NASDAQ: WCST) from New York and Hong Kong-based Redrock Capital Limited with the innovative technology of Berlin-based PANTAFLIX GmbH, a wholly-owned subsidiary of
PANTALEON Entertainment AG (XETRA:PAL).
The new company, headquartered in Germany and with locations in China and the USA, will use PANTAFLIX's superior VoD technology and the content and market access provided by Bruno Wu's group of
companies to offer innovative and unique solutions worldwide in the retail consumer and business-to-business segments. Bruno Wu's companies will own together 50% of the joint venture, with
PANTAFLIX owning the other 50%.
The joint venture combines "German engineering" in the VoD sector with the vast resources of one of China's biggest and most diversified private media and investment companies. In addition to the
technological infrastructure provided by PANTAFLIX, which allows for global marketing of films and other content, some 100,000 film titles are expected over the next two years and will be
commercialised all around the world with high-calibre partners.