Relativity Announces Groundbreaking Multi-Year Strategic Partnership With 3C Media In China

BEVERLY HILLS, Calif. and BEIJING, Oct. 10, 2014 /PRNewswire/ -- Relativity Media ("Relativity"), a next-generation media company, announced today it has entered into a multi-year strategic partnership with 3C Media ("3C"), the leading format rights and content provider in China. The partnership includes 3C and Relativity jointly producing and developing up to four local language television productions per year based on Relativity content, as well as a minimum of two local language remakes of Relativity films for theatrical release each year. 3C will also invest in and co-own films released in China through Relativity's wholly-owned subsidiary SkyLand. 

"This partnership is a significant next step in Relativity's continued expansion into the Chinese market, and we are thrilled to bring a large number of local language productions both in film and television to the China market where there is an incredibly high demand for local content," said Ryan Kavanaugh, CEO of Relativity "3C has produced some of the biggest hit shows in the market, drawing more than 300 million viewers. Their knowledge, access, and high-quality content will allow us to build on the resounding success of our films in China, and will strengthen the reach of our television division. There is no better partner than 3C."

Xichen Liu, CEO and President of 3C, said: "We are thrilled to be partnering with Relativity Media, a recognized innovator and leader in international film and television, and we look forward to bringing our content to a bigger global audience through this partnership."

Under the terms of the agreement, Relativity and 3C will co-own 50% of the films and TV programming created through the partnership.  Relativity will serve as worldwide distributor and sales agent for all of 3C's content outside of China, including its films and television shows. The partnership will also develop television projects for distribution in the U.S. market.

Relativity will have the ability to create international versions of the content originally created through the agreement for Chinese audiences. 3C will have the ability to create Chinese versions of content that was originally created through the partnership for international audiences.

Kavanaugh continued, "Our strategy in China is to forge long-lasting partnerships with local market leaders who know the Chinese entertainment market best. The deep and meaningful relationships we have developed in China, beginning with our groundbreaking distribution partnership with SkyLand, give us a distinct advantage as we continue to drive growth in international markets."

Relativity in China

Relativity's existing presence in China is underpinned by its ownership of SkyLand Entertainment, a film distribution and financing company headquartered in Beijing. Originally launched as a joint venture between Relativity, IDG China Media Fund and SAIF Partners, SkyLand is now a wholly-owned subsidiary of Relativity and maintains a close strategic relationship with the government-run distributor Huaxia Film Distribution Co. Recent Relativity films released in China include Immortals, Mirror Mirror and Free Birds.

In June 2014, Relativity announced three additional partnerships to further expand and deepen its relationship with the Chinese media and entertainment industry. First, Relativity was appointed as the strategic international distribution partner for China Film Promotion International ("CFPI"), a state-owned government agency that oversees the promotion and commercial distribution of Chinese films overseas. Second, Relativity and Jiangsu Broadcasting Corp., one of the China's largest regional broadcasters, announced a partnership agreement to develop, co-finance, co-produce and distribute film and television content for both the international and Chinese markets. Finally, the Industrial Commercial Bank of China Limited (ICBC) and SeedShine Capital, a Chinese investment firm focused on the media and entertainment sector, entered into a binding agreement to invest in Relativity. 

About Relativity

Relativity (relativitymedia.com) is a next-generation global media company engaged in multiple aspects of content production and distribution, including movies, television, fashion, sports, digital and music. More than just a collection of entertainment-related businesses, Relativity is a content engine with the ability to leverage each of these business units, independently and together, to create content across all mediums, giving consumers what they want, when they want it.

Relativity Studios, the company's largest division, has produced, distributed or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box-office revenue and earning 60 Oscar nominations. Relativity's films include Safe Haven, Act of Valor, Immortals, Limitless, and The Fighter. Upcoming releases include Nicholas Sparks' The Best of Me.

About 3C Media

3C Media is the leading TV formats rights broker and content provider in China, specializing in format localization, developing TV ideas and TV production. Since its foundation in 2004, 3C Media has collaborated with almost all the major provincial satellite TV channels in mainland China on format licensing, TV production advertising and merchandising. In 2006, 3C Media collaborated with Hunan Satellite TV to produce the Chinese version of Strictly Come Dancing under license from BBCW.

Together with its in-house production capabilities, 3C Media is active on every genre, in every medium, helping the world's leading entertainment producers and right owners to collaborate with Chinese TV broadcasters and digital media companies. Its professional production teams have taken the lead to create a chain of operating mechanism within the industry, specialize in introducing overseas TV formats into Chinese market, TV format research and production, advertisement marketing, artist agency, brand licensing, development and operation in new media, counselling and training.

Media Contacts:

David Shane
Relativity
310.724.7738  
[email protected]  

Yue Qiaoning Yu
Brunswick Group
+86 10 5960 8611  
[email protected]

Photo - http://photos.prnewswire.com/prnh/20141010/151454

SOURCE Relativity Media

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