Huayi to take 51% stake in Internet film company
By Yang Ziman | China Daily | Updated: 2014-06-18 07:11
Huayi Brothers Media Corp, one of China's leading private media and entertainment conglomerates, plans to acquire a 51 percent stake in Shenzhen Huayuxun Tech Co Ltd, an Internet movie service provider, for 266 million yuan ($42.7 million), the corporation announced on Monday.
The purchase is the latest move in Huayi Brothers' attempt to strengthen its Internet and mobile phone services. It bought 22 percent of Ourpalm Co Ltd in 2010 and 50.88 percent of Guangzhou Yin Han Technology Co Ltd.
Both companies are mobile value-added game developers.
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