US-based Starwin Media to enter Asia Pacific media industry

MUMBAI: The California-headquartered Starwin Media Holdings Inc has entered into an agreement of intent to acquire majority control of Strategic Media International Limited, a Hong Kong corporation -- parent company of three corporations that are currently publicly traded on the Hong Kong Stock Exchange and the other publicly traded on the Shenzhen Stock Exchange.



These four publicly traded corporations are the holding corporations of the premier leading media corporation in the Asia Pacific region. This acquisition is subject to due diligence, states an official release.

Strategic Media International Limited is one of the largest privately owned media corporations in the Asia Pacific region, which owns movie- distribution networks, production companies, video & audio distributions, major advertising companies, major newspapers in Hong Kong, and a 350-acre movie city for movie and television productions. The corporation, that is publicly traded on the Shenzhen Stock Exchange, is a telecommunications and broadband corporation, and has developed and built a broadband infrastructure in major cities in southwestern region of China to accommodate Starwin Media Holdings Inc's IPTV platform, the release adds.



"Our acquisition into these four publicly traded corporations will provide us with direct ownerships into mega media power house in Asia Pacific, and has become a part of our market entry strategy to establish our presence in the Asia Pacific media industry, and to build our branding as the global preeminent media powerhouse," president of Starwin Wendyfer Zhong said.

"This acquisition exercise will also generate new value to all of our existing shareholders, bringing annual revenue and net asset value into Starwin," he adds.

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