Magazine article Screen International

China’s Enlight Media Invests in Ticketing Platform Maoyan

Magazine article Screen International

China’s Enlight Media Invests in Ticketing Platform Maoyan

Article excerpt

In addition, Enlight Media's parent company Enlight Holding will acquire a 38.4% stake in Tianjin Maoyan Culture Media for $122.5m in cash and a 6% stake in Enlight Media.

Following the deal, which values Maoyan at around $1.3bn (RMB8.3bn), Chinese billionaire Wang Xing's stake in the company would be reduced from 85.5% to 31%. The deal is subject to shareholder approval.

Wang Xing is the founder of ecommerce site Meituan.com, which merged with rival Dianping last year. It was announced last month that Maoyan would be spun offfrom Meituan-Dianping to enable the platform to grow and face competition from rival services.

"We will provide appropriate industry resources to strengthen Maoyan's involvement in upstream businesses and create a leading internet + integrated entertainment platform," said Enlight founder and chairman Wang Changtian. …

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