Editor ©RapidTVNews | 20-09-2011
Big Brother founder and developer Endemol is turning to China to seek new opportunities in a deal with the Shanghai Media Group (SMG) to develop and produce content.
The parties will work together via their respective regional subsidies, Hong Kong-based Endemol Asia and Entertainment Team Media Group and it has been reported that the former will retain distribution and format rights for programmes outside of Chinawith the latter retaining rights for the local market.
The deal could prove hugely lucrative for Endemol given SMG’s status in China’s broadcast market with 35 pay-TV channels and digital estates including 15 free-to-air webs channels, IPTV and mobile TV services.
Speaking to industry bible Variety, Yang Wenhong, VP of SMG and CEO of Entertainment Team Media Group, said: "This long-term strategic partnership will play an important role as we look to expand our operations and creative output, both nationally and internationally." Arjen van Mierlo, Endemol's CEO of Asian Operations, added: "China holds extraordinary opportunities for creative companies like Endemol and this alliance with one of the country's leading broadcasters positions us strongly in this rapidly growing market."