Huayi Brothers invests $21.77 mln in Ourpalm
Shanghai. June 22. INTERFAX-CHINA - Huayi Brothers Media Group (Huayi Brothers) has invested RMB 148 million ($21.77 million) into Ourpalm Co. Ltd to tap into the online gaming market, Huayi Brothers announced on June 21.
According to the announcement, the investment will give Huayi Brothers, China's largest private content production company, a 22 percent stake in Ourpalm, a Beijing-based online game developer and operator.
In April, Wang Zhongjun, president of Huayi Brothers, announced plans to enter the online game market through acquisition of or investment in existing businesses.
Adapting online games for TV and movies, and vice-versa, is an industry trend as the two sectors are highly complementary, Dong Hanyang, an analyst with eShip Consulting previously told Interfax.
In 2009, online game developer Perfect World Co. Ltd. started adapting Zhu Xian, a popular massive multiplayer online role playing game (MMORPG) for the big screen.
In December of last year, China Film Corporation told Interfax that it planned to set up an online game subsidiary. China Film Corporation is China's largest film producer.