BEIJING, April 23 /Xinhua-PRNewswire/ -- Xinhua Finance Media ("XFMedia"; Nasdaq: XFML), China's leading diversified financial and entertainment media company, announced that its Production Group has signed an agreement to develop cartoon characters and television programming aimed at promoting fire prevention for the National Fire Services Department.
XFMedia has signed a three-year agreement with Beijing Ancheng Cultural Development Company, a subsidiary of National Fire Services Department under the Ministry of Public Security, to produce a 52-episode animation television series called "Fire-Fighting" along with TV promotional video spots, all based on XFMedia developed cartoon firefighter characters.
The contract has two significant elements: First, XFMedia will own all intellectual property rights in the series. These rights allow XFMedia to create and sell merchandise based on the characters. Second, XFMedia will be entitled to all broadcast rights and related revenues.
XFMedia will complete the first 18 episodes within 18 months and all 52 episodes within two years. Xinhua Finance Media COO Mr Zhu Shan said the project was significant both in terms of potential revenues and the public service impact of the animated promotional campaign.
"It is a great honor to be working with the Fire Prevention Services on this project," Mr Zhu said. "We expect these cartoon characters to be highly visible nationwide with a very strong impact in terms of awareness on fire prevention. We are optimistic about the advertising and syndication revenue potential of the series."
XFMedia's Production Group produces a diverse array of quality programming, animation shows and television drama series, as well as offers special effects services and TV channel packaging. It has won a number of awards for its work. The Production Group produced over 100 television programs and 60 animation episodes last year.
About Xinhua Finance Media Limited
Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is China's leading diversified financial and entertainment media company targeting high net worth individuals nationwide. The company reaches its target audience via TV, radio, newspapers, magazines and other distribution channels. Through its five synergistic business groups, Advertising, Broadcast, Print, Production and Research, XFMedia offers a total solution empowering clients at every stage of the media process and keeping people connected and entertained.
Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xinhuafinancemedia.com .
Xinhua Finance Media is a subsidiary of Xinhua Finance Limited ("XFL"; TSE Mothers: 9399), China's premier financial information and media service provider. XFL owns 36.9% of the equity and 85.4% of the voting rights of XFMedia through its holding of class B common shares, which have ten votes per share. The investing public, the company's China partners, executives and staff own class A common shares in the company with one vote per share. The dual-class common share structure was created to accommodate the regulatory landscape of China's media sector.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," ‘‘confident'' and similar statements. Among other things, expectations about the Chinese advertising market and quotations from management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about XFMedia's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statements. Potential risks and uncertainties are risks outlined in XFMedia's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. All information provided in this press release is as of April 19, 2007, and XFMedia undertakes no duty to update such information, except as required under applicable law.
