Cisneros Group Inks Landmark Partnership Deal in China

BEIJING, August 12: The
Cisneros Group of Companies and China’s CCTV have signed an agreement to pool
their resources to distribute programming in their respective markets, reaching
a combined potential audience of 1.5 billion.

The alliance opens doors
for mutual distribution between the companies, including their current
entertainment catalogues and upcoming production slates, as well as
co-production opportunities.

Gustavo Cisneros, the chairman and CEO of the Cisneros Group of
Companies, said: “We are pleased and honored to be able to share our successful
Cisneros programming with CCTV and to help CCTV find opportunities to expand
with us into the growing Hispanic market. It is very fitting that this agreement
is being signed during the 2008 Beijing Olympic Games, a place that honors the
best in international cooperation and achievement. We are already providing our
popular Latin American soap operas (telenovelas) to China, which—like
many other countries around the world—has a great appetite for this
attractive form of international entertainment. As I have said many times, I am
a great believer in the future of Latin America. I am also a great believer in
the future of China.”

Zhao Hua Yong, the president
of CCTV, added: “CCTV and CGC will
base on the principle of mutual benefit and endeavor both advantage to
contribute culture exchange between Latin America and China.”

—By Kristin
Brzoznowski