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Cisneros Group and China Central Television to Sign Historic Media Agreement in Beijing

BEIJING (Business Wire EON) August 11, 2008 -- This breakthrough agreement for the international media industry -- between two of the world great cultures ? was signed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of Companies and Mr. Zhao Hua Yong, President of CCTV, accompanied by Mr. Li Jian, President of China International Television Corporation, Mr. Luis Villanueva, President of Venevision International and Mr. Ma Runsheng, General Manager of CPEC and Assistant to the President of CITVC, among other executives from these organizations.

This is the final step in a four-year effort to mutually open the Chinese and Ibero-american markets, led by Venevision International, the entertainment company of the Cisneros Group, and CITVC, the corporation that owns the rights to and distributes CCTV's programming worldwide.

Gustavo Cisneros views the fast-growing Chinese market with intense interest, given the business potential of its increasingly open media environment. The Cisneros Group is internationally known for its aggressive global growth strategy and the popularity of its programming, broadcasting in 104 countries and more than 20 different languages.

CCTV, on the other hand, is well known for the high quality of its productions and its increasingly expanding international presence, taking advantage of the world audience's interest in China due to its powerful presence in the world economy and fascinating culture. Especially in August all eyes are in China, celebrating the 2008 Summer Olympic Games in Beijing.

About the Cisneros Group of Companies

The Cisneros Group of Companies is one of the largest privately held media, entertainment, telecommunications and consumer products organizations in the world. The Cisneros Group owns or holds interests in companies ranging from broadcast television, television production, and telecommunications to beverage businesses and travel resorts. Through its diverse businesses and world-class partnerships, the Cisneros Group of Companies delivers some of the top brands and highest-quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Cisneros Group sells TV programming and other media content on five continents and in over 90 countries.

About CCTV

China Central TV (CCTV) is China's largest national TV network. CCTV first broadcast in 1958. By 1985 it was China's major television network. Today it operates 16 channels throughout China, most offering 24-our broadcasting, and a High Definition channel. CCTV programming is also available overseas and in languages including English, Spanish and French.

About Venevision International

Venevision International is an entertainment company part of the Cisneros Group with more than 30 years in the market. Its projects are part of the business development strategy designed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of Companies. Venevision International distributes television programming throughout the world and is one of the largest independent producers of television programs in Spanish. The company also distributes films in Spanish for theater, pay-per-view, home video, paid and free television in the United States, where it broadcasts its movie channel, Vene Movies. Venevision International also does business in the international arena of music with its record label, Vene Music, and Siente Music; and mobile entertainment with Venemobile and LatCel. The company is also a pioneer in the area of "product integration" through Synapsys International.

About CITVC

China International Television Corporastion (CITVC) is a wholly-owned subsidiary of CCTV. CITVC was founded in 1984 and is now the largest and most profitable media company in China. Its business includes program production and distribution, audio and video publishing, advertising. Pay TV, market research, technical development, investment, and tourism services. CITVC is the global marketing agent for program copyrights owned by CCTV and is the sole authorized agent for importation of foreign TV programs to China.

Keyword Tags: cisneros group, gustavo cisneros, venevision

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