Beijing – Perfect World, a publisher and operator of online
games in China, announced on Monday that it acquired majority stakes in two
local film and TV production and distribution firms.
Perfect World said it will
invest about $16.2 million in Beijing Xinbaoyuan Movie & TV Investment Co.,
Ltd., and about $12.1 million in Shanghai Baohong Entertainment and Media Co.,
Ltd.
"Making strategic acquisitions and investments in complementary
fields continues to be one of our core growth strategies," said Perfect
World chairman and CEO Michael Chi.
"We believe the expertise, creativity
and innovation, and strong reputation of both companies in the film and
television industry will bring new, future growth opportunities to our company,
while creating synergies with our core gaming business primarily through
content generation and co-promotion."
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