Gravity Media plans to spend 120 million yuan to invest in two variety shows

Gravity Media (603598) announced on the evening of November 26 that the company plans to invest in two variety shows "The Hidden God of Songs" and "See Your Voice", with a total investment of approximately 120 million yuan. At the same time, the company plans to increase capital in Shanghai Woqu Culture Media Co., Ltd. with no more than 12 million yuan in cash. After the capital increase, the company will hold 15% equity of Woqu Culture.

Gravity Media (603598) announced on the evening of November 26 that the company plans to invest in two variety shows "The Hidden God of Songs" and "See Your Voice", with a total investment of approximately 120 million yuan. At the same time, the company plans to increase capital in Shanghai Woqu Culture Media Co., Ltd. with no more than 12 million yuan in cash. After the capital increase, the company will hold 15% equity of Woqu Culture.

According to the announcement, the company plans to invest in the production of the variety show "Hidden God of Songs" through its holding subsidiary Huachuan Culture Communication (Tianjin) Co., Ltd., with a total investment of approximately 100 million yuan, and the company plans to invest 70 million yuan; the company plans to cooperate with Zhejiang Dongyang New Media Eslite Culture Media Co., Ltd. jointly invest in the variety show "Seeing Your Voice", with a total investment of approximately 100 million yuan. Both parties will serve as co-producers of the program, at a rate of 50%: 50% of the investment ratio is jointly invested, shared risks, and shared benefits.

It is reported that "Seeing Your Voice" is a new concept music reasoning program launched by South Korea's Mnet Media. The Korean version of "Seeing Your Voice" has high ratings in South Korea. The program is scheduled to be broadcast on Jiangsu Satellite TV during prime time on Sundays from February to May 2016, with a total of 12 issues.

The announcement shows that "The Hidden God of Songs" is a variety show owned by South Korea's DramaHouse&J Content Hub Co., Ltd.(hereinafter referred to as "JCH"). It has been launched in South Korea since 2012 and has achieved great success. It has been produced and broadcast for three consecutive seasons. The program is expected to be broadcast on Zhejiang Satellite TV during evening prime time in the first quarter of 2016, with a total of 13 issues. Specific matters of investment in this program are being further implemented and negotiated, and the company will disclose information in stages based on the progress of the project.

In addition, Gravity Media plans to increase its capital in Shanghai Woqu Culture Media Co., Ltd. with no more than 12 million yuan in cash. After the capital increase, the company will hold a 15% stake in Woqu Culture. Woqu Culture will focus on the planning, operation, marketing and other related businesses of online content, and is committed to building the most professional content marketing company in the Internet field in China as well as the planning and operation company of online content.

The company stated that this investment in the production of two variety shows is a key project operated by the company in the field of content production in 2016 based on the company's investment and operation of variety shows in 2015. It is conducive to the company's exploration of the TV variety show market and help Further improve the company's profitability and comprehensive competitiveness. All of the above transactions use the company's own funds.

[Original Announcement]

Gravity Media's intention to invest in and produce two TV variety shows Announcement

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Editor: vian