Chinese media platform BesTV has reportedly reached an agreement with Walt Disney to set up a digital technology joint venture in China.
This joint venture will reportedly focus on digital technology consulting services related to services, products and contents of BesTV and Walt Disney in mainland China.
The total investment for the joint venture will be USD8 million, which is about CNY49.04 million. BesTV will hold a 51% stake, while Walt Disney will hold the remaining 49%.
The joint venture will operate new media cooperation consulting firm related to the two companies' family, youth, and cartoon contents; meanwhile, it will be responsible for consulting services of joint shooting, project management, and full-media cooperation between the two companies.
This is BesTV's latest move following building a joint venture with Microsoft. In September 2013, the company announced plans to build a joint venture with Microsoft with joint investments of USD79 million. The two parties will implement cooperate in family-friendly games, entertainment technology, terminals, content, and service sectors.