BEIJING, August 11, 2008 - The Cisneros Group of Companies, a global media and entertainment company, and China Central Television (CCTV), the principal media company in the People’s Republic of China, today signed a groundbreaking agreement during the 2008 Summer Olympic Games in Beijing, allowing the Cisneros Group and CCTV to pool their resources to distribute television programming in their respective markets, in an effort to improve awareness of both Hispanic and Chinese culture.
Gustavo Cisneros, Chairman and CEO of the Cisneros Group and Zhao Hua Yong, President of CCTV, signed the breakthrough agreement creating this important media alliance. The agreement with the Cisneros Group provides access for both organizations to a potential audience of 1.5 billion people, the combined population of the People’s Republic of China, Latin- America and the Spanish speaking nations of Europe.
Closed against the backdrop of the 2008 Olympic Games, the agreement reinforces the Cisneros Group’s commitment to the Chinese market, and underscores the business potential of an increasingly open media environment in China. The landmark partnership highlights CCTV’s growing presence in international markets, fueled by the high quality of its programming, the international audience’s fascination with China’s global economic clout, and the worldwide fascination with China’s unique culture.
The agreement, the first such agreement between Latin America and China, contemplates the revision of both organization’s entertainment catalogues and upcoming production schedules to identify both content and opportunities suitable for mutual distribution, programming exchanges, acquisitions and other forms of commercial agreements such as co- productions.
Cisneros Group Chairman Gustavo Cisneros said: “We are pleased and honored to be able to share our successful Cisneros programming with CCTV and to help CCTV find opportunities to expand with us into the growing Hispanic market. It is very fitting that this agreement is being signed during the 2008 Beijing Olympic Games, a place that honors the best in international cooperation and achievement. We are already providing our popular Latin American soap operas (telenovelas) to China which – like many other countries around the world – has a great appetite for this attractive form of international entertainment. As I have said many times, I am a great believer in the future of Latin America. I am also a great believer in the future of China.”
Mr. Zhao Hua Yong, President of CCTV said “CCTV and CGC will base on the principle of mutual benefit and endeavor both advantage to contribute culture exchange between Latin America and China”.
The Cisneros Group event was witnessed by Li Jian (China International Television Corporation President), Ma Runsheng (Gral. Mgr. CPEC/ Assistant to Pres. CITVC), Cheng Chunli (CITVC Marketing Gral. Director), Zhang Yongfu (Head of CCTV international liaison), Mr. Qiu Pengming (CCTV international liaison) and Angelina Wang, executive of CITVC. The Cisneros Group was represented by Adriana Cisneros, Guillermo Cisneros, Luis Villanueva (President and CEO Venevision International), Jose Antonio Espinal (Vice-President of Entertainment Venevision International) and Ms. Salome Hernandez (Venevision International’s China Representative).
After the signing ceremony, Mr. Gustavo Cisneros and representatives of CCTV and the Cisneros Group met with Mr. Tian Jin (Vice- President of SARFT, the State Administration of Radio Film and Television) the official entity that regulates the media industry in the People’s Republic, who expressed his satisfaction for this important deal.
About the Cisneros Group of Companies
The Cisneros Group of Companies is one of the largest privately held media, entertainment, telecommunications and consumer products organizations in the world. The Cisneros Group owns or holds interests in companies ranging from broadcast television, television production, and telecommunications to beverage businesses and travel resorts. Through its diverse businesses and world-class partnerships, the Cisneros Group of Companies delivers some of the top brands and highest-quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Cisneros Group sells TV programming and other media content on five continents and in over 90 countries.
About CCTV
China Central TV (CCTV) is China’s largest national TV network. CCTV first broadcast in 1958. By 1985 it was China’s major television network. The Chinese market is composed of 3,240 TV stations, of which 209 are operated by CCTV, 31 are regional TV stations, and nearly 3,000 are local city stations. CCTV has 18 channels that are broadcast nationally, including one in Spanish and one in French.h Definition channel. CCTV programming is also available overseas and in languages including English, Spanish and French.
About Venevision International
Venevision International is an entertainment company part of the Cisneros Group with more than 30 years in the market. Its projects are part of the business development strategy designed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of Companies. Venevision International distributes television programming throughout the world and is one of the largest independent producers of television programs in Spanish. The company also distributes films in Spanish for theater, pay-per-view, home video, paid and free television in the United States, where it broadcasts its movie channel, Vene Movies. Venevision International also does business in the international arena of music with its record label, Vene Music, and Siente Music; and mobile entertainment with Venemobile and LatCel. The company is also a pioneer in the area of “product integration” through Synapsys International.
About CITVC
China International Television Corporastion (CITVC) is a wholly-owned subsidiary of CCTV. CITVC was founded in 1984 and is now the largest and most profitable media company in China. Its business includes program production and distribution, audio and video publishing, advertising. Pay TV, market research, technical development, investment, and tourism services. CITVC is the global marketing agent for program coCTV and is the sole authorized agent for importation of foreign TV programs to China.