NEW YORK and SANTA MONICA, Calif., Feb. 16, 2012 /PRNewswire/ -- YOU On Demand Holdings, Inc.'s (OTCBB: CBBD / CBBDD) PRC joint venture, China's leading national Pay-Per-View (PPV) and Video On Demand (VOD) platform, today announced that it has signed an agreement with Lionsgate (NYSE: LGF), a leading diversified global entertainment company, to show a number of Lionsgate films on a Transactional Video On Demand (TVOD) and Subscription Video On Demand (SVOD) basis in China.
The content will be provided by Celestial Tiger Entertainment (CTE), the recently-launched independent Asian media company, which is the exclusive sales agent for Lionsgate content in Greater China and Southeast Asia. CTE is a joint venture among Saban Capital Group, Lionsgate and Astro's Celestial Pictures.
The licensing deal with YOU On Demand includes titles from the Lionsgate library such as the Oscar? nominated "Hotel Rwanda," the groundbreaking "The Blair Witch Project," and the "Saw" franchise as well as classics like "Dirty Dancing," starring Patrick Swayze and Jennifer Grey and "Monster's Ball," featuring Halle Berry's Oscar? winning performance.
"YOU On Demand is excited to add Lionsgate's wide variety of original and quality motion pictures to our lineup and continue our mission to present the best in home entertainment to our customers," said Shane McMahon, Chairman and CEO of YOU On Demand.
About YOU On Demand Holdings, Inc.
YOU On Demand is the first national Pay-Per-View and Video On Demand platform in China. The Company offers high quality premium content to customers across China through its Near Video On Demand (NVOD), Video On Demand (VOD) and Subscription Video On Demand (SVOD) services. The Company consists of a portfolio of businesses that include alliances with leading media operators, comprehensive end-to-end content delivery, an exclusive billing solution, governmental partnerships and approvals, and value added services.
YOU On Demand has secured strategic partnerships with the largest media entities in China, and has a highly experienced management team with a strong background in Cable, Television, Media and Telecom. The company is headquartered in New York, NY, with its China headquarters in Beijing. For more information, visit http://www.yod.com.
About Lionsgate
Lionsgate is a leading global entertainment company with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming and an array of channel assets. Lionsgate currently has 15 shows on more than 10 networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as the multiple Emmy Award-winning "Mad Men", "Weeds" and "Nurse Jackie" along with the comedy "Blue Mountain State," the Golden Globe-winning drama "Boss" and the syndication successes "Tyler Perry's House Of Payne", its spinoff "Meet The Browns", "The Wendy Williams Show" and "Are We There Yet?".
Its feature film business has been fueled by such recent successes as THE LINCOLN LAWYER, TYLER PERRY'S MADEA'S BIG HAPPY FAMILY, THE EXPENDABLES, MARGIN CALL, THE LAST EXORCISM and the critically-acclaimed PRECIOUS, which won two Academy Awards?. With the January 2012 acquisition of Summit Entertainment, the Company now has the two leading young adult franchises - the blockbuster TWILIGHT SAGA, which has grossed more than $2.5 billion at the worldwide box office, and the HUNGER GAMES franchise, whose first film will be released on March 23. Recent Summit hits include RED, LETTERS TO JULIET, KNOWING, the STEP UP franchise and the Academy Award winning Best Picture THE HURT LOCKER.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 13,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
About Celestial Tiger Entertainment
CELESTIAL TIGER ENTERTAINMENT (CTE) is a diversified media company dedicated to entertaining audiences in Asia and beyond. The company focuses on the operation of branded pay television channels, content creation and content distribution targeted at Asian consumers.
CTE operates a powerful bouquet of distinct pay television channels including: CELESTIAL MOVIES, the most broadly distributed 24-hour Chinese and Asian movies channel in the world; CELESTIAL CLASSIC MOVIES, the gateway to an unparalleled array of Chinese movie masterpieces; CELESTIAL MOVIES ON DEMAND, Celestial's subscription video on demand service; KIX, the ultimate in action entertainment; Thrill, Asia's only horror and suspense movie channel; and KIX HD, featuring the best of action with a late-night dose of thrillers in high definition.
As one of Asia's largest vertically integrated entertainment companies, CTE produces original content which complements its channels business. CTE is also the exclusive sales agent of content in all media in Southeast Asia and China from independent Hollywood studio Lionsgate.
Headquartered in Hong Kong, CTE is a joint venture among Saban Capital Group, a leading private investment firm specializing in the media, entertainment and communications industries; Celestial Pictures, a major Asian entertainment company wholly-owned by Astro, the owner and operator of the leading DTH platform in Malaysia; and Lionsgate, the world's largest independent filmed entertainment studio.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE YOU On Demand Holdings, Inc.
YOU On Demand Holdings, Inc.
CONTACT: Jason Finkelstein of YOU On Demand, +1-212-206-1216, Jason.Finkelstein@yod.com; or Stuart Zakim of Bridge Strategic Communications for YOU On Demand, +1-732-754-9051, stu@bridgestrategic.com; or Peter D. Wilkes of Lionsgate, +1-310-255-3726, pwilkes@lionsgate.com
Web Site: http://www.yod.com
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