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Maoyan Entertainment to Purchase 236.6 Million Shares of Huanxi Entertainment Group

March 13, 2019 11:37 am

BEIJING (PingWest) – China’s top online mobile-ticketing platform, Maoyan Entertainment, signed a subscription agreement with Huanxi Entertainment, an investment holding company engaged in media and entertainment, to buy 236.6 million shares at a total price of HK$391 million, roughly US$50 million.

Additionally, Maoyan signed a strategic partnership agreement with Huanxi Media to get investment priority and exclusive publicity and lease rights. The two companies will jointly invest in TV and online series.