Welcome!

News Feed Item

Disney & BesTV Agree to Form Digital Joint Venture in China

Joint venture would aim to expand families' and kids' digital choices

SHANGHAI, Dec. 4, 2013 /PRNewswire/ -- The Walt Disney Company China and BesTV New Media Company Limited, the digital media subsidiary of the Shanghai Media Group (SMG), today announced they have signed definitive agreements for the formation of a new joint venture that will place viewers at the forefront of China's fast-changing digital landscape. The transaction is subject to certain closing conditions including clearance by applicable regulatory authorities. 

The joint venture seeks to maximize the technical expertise, professional skills, experience and marketing strategies of both companies and to operate digital technology consulting businesses centering on BesTV and Disney-related services, products and content in mainland China. BesTV will own 51% of the joint venture and TWDC Shanghai Enterprises, LLC, a wholly owned indirect subsidiary of The Walt Disney Company, will own 49%. 

"Technology and innovation are key pillars of Disney's strategic vision," said Mr. Stanley Cheung, Executive Vice President and Managing Director, The Walt Disney Company, Greater China. "The China digital landscape and industry is expanding and changing exponentially. This joint venture with BesTV and seeks to serve Chinese consumers who are increasingly connected to their viewing experiences across multiple platforms."

"BesTV has formed the largest new media platforms in China, including IPTV, smart phones, mobile TV and online streaming. Coupled with Disney's long standing commitment to digital innovation across multiple platforms, both companies share a common vision to provide an enhanced viewing experience for Chinese audiences and consumers, and  explore new business models for digital distributors," said Mr. Tao Mingcheng, President of BesTV New Media Company Limited.

The joint venture will tap BesTV's local expertise, Disney's international experience and utilize complementary technologies. China's digital industry has grown significantly over the past five years with a distinct shift towards new platforms. "The opportunity to work with BesTV positions Disney at a deeper and exciting juncture in the rapid development of the Chinese digital industry," said Mr. Cheung.

About The Walt Disney Company in China

The Walt Disney Company (NYSE:DIS), together with its subsidiaries and affiliates, is a diversified international family entertainment enterprise with five business segments. Disney's first animation screened in China in the 1930s and today our long association continues with offices in Beijing, Shanghai and Guangzhou with over 3000 employees. The company is focused on creating high-quality entertainment experiences and effectively building local and Disney franchises in China. Disney currently has several established businesses in the country, including studio entertainment, parks and resorts, consumer products, media networks, interactive media, and its English language program, Disney English, which launched in 2008. In September 2005, Disney opened its doors to its first theme park in China, Hong Kong Disneyland and in 2011 announced ground breaking for the Shanghai Disneyland Resort, a joint venture with Shanghai Shendi Group. In Oct 2013 Disney also announced plans to build its largest Disney store in the world in Shanghai, China. Disney is a Dow 30 company and had annual revenues of $45 billion in its Fiscal Year 2013. For more information about The Walt Disney Company please visit: http://corporate.disney.go.com/  

About BesTV

BesTV New Media Co Ltd (SHA:600637) is an A-share listed new media company controlled by Shanghai Broadcasting TV Station and Shanghai Media Group (SMG). BesTV New Media owns 100 percent equity of BesTV NetTV Technology Development Co., Ltd, Shanghai Media & Entertainment Technology Group and Shanghai Film, Radio & TV Production Co., Ltd. BesTV also controls Funshion Network, and has established a joint venture with Microsoft, Lenovo and ZTE Corporation. All of these have led BesTV to build the largest new media industry cluster in China. The company covers more than 20 provinces/cities in Mainland China and South East Asia with a new media business portfolio including IPTV, internet TV, smart TV, OTT and mobile TV, and established a presence in Asia-Pacific and Africa regions with technologies, equipment and film & television production channel. For more information about BestTV, please visit http://www.bestv.com.cn/

SOURCE The Walt Disney Company

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
"Since we launched LinuxONE we learned a lot from our customers. More than anything what they responded to were some very unique security capabilities that we have," explained Mark Figley, Director of LinuxONE Offerings at IBM, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...