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China Film Group and Crest Digital Announce Media Partnership

2007-04-10 15:50 4095

Multiple Media Ventures Located in the Largest Entertainment and Studio Facility in Asia

LOS ANGELES, April 11 /Xinhua-PRNewswire/ -- China Film Group, the largest state-owned media company in China, and Crest Digital, a 45-year-old Hollywood-based digital media services company, today announced the formation of a Sino-foreign joint venture partnership that will deliver a full range of home entertainment and technology software content via multiple digital platforms to mainland China consumers. The partnership combines the capabilities of China’s most influential entertainment and media conglomerates with one of Hollywood’s premier media services and optical technology companies. For entertainment and technology content owners, this joint venture provides a secured critical distribution and pre-recorded DVD/CD manufacturing solution in China’s highly regulated domestic entertainment and media industry. The partnership will also focus on developing emerging digital content delivery technologies for its clients, including VOD, IPTV, Internet and mobile.

"This partnership exists because of the unique synergy, shared objectives, trust and respect that enabled a relationship to develop between Crest Digital and China Film Group," notes Ron Stein, president of Crest Digital. "For Crest Digital, it provides us with the optimum partner and solution in China for our domestic entertainment and technology customers."

The two companies will collaborate on a broad spectrum of digital media ventures in China including the creation of a new state-of-the-art DVD and CD manufacturing facility, scheduled to open outside Beijing in the winter of 2007. With an initial land space of more than 800 acres, the complex will be the largest entertainment and studio facility in Asia. The world-class facility will be 15,000 square meters and will house 40 standard definition and high definition DVD replication lines and employ 500 people. China Film Group will also facilitate government approval for additional optical manufacturing licenses targeted for new regions, including South China.

The Beijing manufacturing facility is only the first of several joint ventures planned between the two companies. Over the course of the next six to 12 months, the companies intend to announce additional ventures including one focused on CD & DVD anti-counterfeiting technology.

"China Film Group is a critical component for Hollywood and foreign content owners seeking distribution of their valuable entertainment optical software and intellectual property in China," says Eric Loong, Crest Digital’s chief operating officer. "Crest Digital is the first digital media services company to create this type of partnership in China, and we are honored to be partnered with China Film Group."

"China Film Group’s partnership with Crest Digital will serve to advance and propel both China and America’s entertainment and media technology industries by blending the expertise and capabilities of these two companies," says Yang, Buting, Chairman of the Board of the new venture. "This partnership shows the increasing globalization of our industry and will have a tremendous impact on the efficiency and technological advancement of our businesses."

About China Film Group

China Film Group is the most dominant and influential state-run media conglomerate in China. Its scope of business spans movie and television content production, film distribution and exhibition, movie importation and exportation, cinema circuit management, digital cinema construction, movie channel, print developing and processing, film equipment management, digital film production, CD/DVD manufacturing and advertising. For more than a decade, China Film Group’s subsidiary, China Film Import & Export Corporation, has been the sole government-authorized importer of films. Movie and TV production units include: the former China Film Corporation, Beijing Film Studio, China Youth Film Studio, China Film Co-production Corporation, China Film Equipment Corporation, Movie Channel Production Center, Beijing Film & Video Laboratory and Huayun Film & TV Compact Disk Co., Ltd. Each year, China Film Group produces more than 30 feature films, 400 TV plays and

100 telefilms.

About Crest Digital

Crest Digital is a highly-innovative digital media services company with a track record of developing personalized solutions for the global entertainment and technology industries. A 45-year-old company based in Hollywood, California, Crest has provided industry-leading video, audio, language and DVD/CD media services for major film studios, record labels, software companies and industrial clients including Disney, Microsoft, Vivendi Universal, Earthlink, Symantec, Paramount, Warner Bros., Apple, American Airlines, NBC/Universal and Intuit. The award-winning company has a well-earned reputation for developing new technologies including many industry "firsts," combined with an unwavering commitment to the industry’s highest standards of quality, service and IP security. More information is available at: http://www.crestdigital.com .

Source: Crest Digital
Keywords: Entertainment
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