Content Media Pacts with Bruno Wu’s Seven Stars

LONDON: Content Media Corporation has entered into a multifaceted deal with China's Seven Stars Entertainment and Media and its principal, Dr. Bruno Wu.

Under the agreement, Content will acquire the Alive Group of companies based in Beijing, which consists of several outfits based in mainland China that engage in the production and distribution of TV programming to the Chinese market under the Alive TV Network brand, among other activities. Content will distribute its extensive library of film and TV rights through the Alive Group to the Chinese market and will offer its producers direct distribution opportunities to the Chinese market through its Alive Group subsidiaries. Content will also distribute certain rights owned by the Alive Group outside of China.

The other part of the deal sees Seven Stars making a direct equity investment in Content. Wu, the founder of Seven Stars, joins Content's board of directors. Alex Cherepakhov, Seven Stars' vice chairman, also joins the Content board as non-executive director. Huw Davies is stepping down as chairman.

Among the first commercial activities of the new venture will be Team China, a ten-hour martial arts reality show for CCTV5, and the Chinese theatrical release of Grace of Monaco, starring Nicole Kidman and Tim Roth. The Alive Group is developing other television formats, such as Wheel of Fortune and will work with Content Television to bring new shows to the Chinese market.
 
John Schmidt, the CEO of Content Media, said, “This is a tremendously exciting deal for Content and a landmark deal in our industry. Content’s worldwide production and distribution business will now include a wholly owned subsidiary operating directly in the Chinese market. The growth of the Chinese television market, the emergence of the OTT operators and explosive growth in Chinese box office revenue are all elements that make China the most compelling entertainment market in the world today. I am looking forward to working with Dr. Bruno Wu, whose vision brought this deal together, and I welcome him and Alex Cherepakhov to our board. I would like to thank Huw Davies for his brilliant service to the Content board. He will be missed.”


Wu commented, “We have been building the Alive Group in China, and now we have found the perfect fit with Content Media. Content’s global distribution and production operations combined with our China business and Asia growth strategy makes for a unique and dynamic combination. Alex and I are looking forward to working with John and his team to realize our vision, and I’m delighted to join my friends, Jeff Sagansky, Franz von Auersperg and Kerry McCluggage, on the Content board.”