YOU On Demand closes $10MN investment deal with Sun Seven Stars


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Editor

| 25 November 2015




Chinese Hollywood film and premium content provider YOU On Demand (YOD) has reached agreement with Sun Seven Stars Media Group on a previously announced investment proposal.



SSL is one of the largest private media and investment conglomerates in China, and the transaction, where Bruno Wuplans to invest up to $10 million, has been unanimously approved by both companies' boards of directors and is expected to close December 2015 subject to customary approvals. It includes approval by holders of a majority of the outstanding shares of YOD common stock as well as other customary closing conditions.

Commenting on the transaction, YOU on Demand chairman Shane McMahon said: "Bruno Wu and Sun Seven Stars have been rapidly and deftly building a next generation world-class entertainment company over the last several years. We see this transaction as a perfect opportunity to position us for growth in the short and long term. We look forward to laying out in more detail YOD's mutually beneficial strategic plans, at the close of this transaction."