Cisneros Group Expands Presence in China

MIAMI, August 7: Next week
in Beijing, the Cisneros Group of Companies is set to enter into a strategic
media partnership with Chinese broadcasting behemoth CCTV.

The deal, to be signed
August 11, will see both companies pooling their resources to promote the
distribution of content in their respective markets. The agreement is the
culmination of several years of effort by the Cisneros Group—and it
content-distribution arm, Venevision International—to tap into the
opportunities of the Chinese market. The alliance will cover a variety of
areas, including program distribution and co-productions.

Gustavo Cisneros, the chairman and CEO of the Cisneros Group of Companies, will be on
hand to sign the agreement with Zhao Hua Yong, the president of CCTV; Li Jian,
the president of China International Television Corporation; and Luis
Villanueva, the president of Venevision International, among other executives.

—By Mansha Daswani