|By PR Newswire||
|December 4, 2013 05:04 AM EST||
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/
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
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 12:30 AM EDT Reads: 1,545
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 11:45 PM EDT Reads: 1,195
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 23, 2016 11:30 PM EDT Reads: 2,096
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 23, 2016 11:30 PM EDT Reads: 798
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Jul. 23, 2016 11:15 PM EDT Reads: 1,806
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jul. 23, 2016 11:15 PM EDT Reads: 1,850
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 11:15 PM EDT Reads: 1,214
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Jul. 23, 2016 11:00 PM EDT Reads: 2,216
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 23, 2016 10:15 PM EDT Reads: 2,418
“Being the one true cloud-agnostic and storage-agnostic software solution, more and more customers are coming to Commvault and saying ' What do you recommend? What's your best practice for implementing cloud?” explained Randy De Meno, Chief Technologist at Commvault, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 10:00 PM EDT Reads: 1,569
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 10:00 PM EDT Reads: 1,573
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Jul. 23, 2016 09:30 PM EDT Reads: 1,871
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Jul. 23, 2016 09:30 PM EDT Reads: 1,940
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Jul. 23, 2016 09:00 PM EDT Reads: 1,809
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jul. 23, 2016 08:45 PM EDT Reads: 1,646