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CCTV signs 20-year deal with IMG |
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Written by Variety staff
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Friday, 01 August 2008 |
IMG Worldwide, the Gotham-based sports production giant, has cut a 20-year deal with China's state broadcaster CCTV to develop sporting events and programming throughout China, Hong Kong, Taiwan and Macau.
The companies have formed a Beijing-based joint venture dubbed CCTV-IMG Sports Management Company. The partnership is designed to vastly expand opportunities for sports programming and sponsorship opportunities in China on the heels of the Beijing summer Olympic Games.
Jiang Heping, managing director and prexy of CCTV Sports, will serve as chairman of CCTV-IMG Sports Management.
"China's abundant sports resources and huge market give us an enormous opportunity for growth, and makes sports one of China's key competitive industries worldwide," Heping said in a statement. "We are determined to take the lead in China's sports industry."
IMG chief Ted Forstmann said the partnership will "generate many different opportunities to enhance the sports and media landscape in China."
© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
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