Disney, Shanghai’s BesTV agree on joint venture

Disney, Shanghai’s BesTV agree on joint venture



The Walt Disney Company and a Shanghai media business announced on Wednesday they will set up a joint venture in China to tap into the country’s fast-developing digital industry and market.The new venture will use the technical expertise, professional skills, experience and marketing strategies of TWDC and BesTV New Media. It will operate a digital technology consulting business focusing on BesTV and Disney-related services, products and content in China’s mainland, BesTV said in a statement.

BesTV, a Shanghai-listed IPTV firm, will own 51% of the joint venture, while the remainder will be owned by TWDC Shanghai, a wholly owned subsidiary of TWDC.

“China’s digital landscape and industry is expanding and changing exponentially,” said Stanley Cheung, executive vice president and managing director of TWDC Greater China. “This joint venture with BesTV will seek to serve Chinese consumers who are increasingly connected to their viewing experiences across multiple platforms.”

BesTV, a subsidiary of Shanghai Media Group, has 18 million IPTV subscribers with its businesses in China, southeast Asia and eastern Europe.

BesTV president Tao Mingcheng said the two companies share a common vision to explore new business models for digital distributors. He hoped the new company would bring better experiences for Chinese audiences.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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