China Ruyi Enters Distribution, Licensing Framework With Tencent Unit
MT Newswires Live
Apr 08
China Ruyi (HKG:0136) said it entered agreements with a Tencent (HKG:0700) unit to partner on game distribution and drama and movie licensing, according to a Hong Kong bourse filing Tuesday.
Shares of Ruyi and Tencent both rose 3% in Hong Kong trading recently.
Among other things, the gaming framework agreement will see Ruyi serve as a distributor and marketer of games developed independently or licensed to the group or Tencent Computer.
Meanwhile, the drama series and movies framework agreement will see Ruyi license its content to Tencent and co-produce dramas with the firm.
Tencent is a shareholder in Ruyi.
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