The Cisneros Group of Companies, a global media and entertainment company managed by the entrepreneur Gustavo Cisneros, and China Central Television (CCTV), a media company in the People's Republic of China, have signed an agreement during the 2008 Olympic Games in Beijing. The agreement will allow CCTV and Venevision International, a Cisneros Group Company, to work together to distribute television programming in their own markets. This will be done in an effort to improve Hispanic and Chinese cultural awareness.

 

The new agreement is seen as a breakthrough for the international media industry. It was signed by Gustavo Cisneros, chairman and CEO of the Cisneros Group of Companies and Zhao Hua Yong, president of CCTV, as well as by Li Jian, president of China International Television Corporation, Luis Villanueva, president of Venevision International and Ma Runsheng, general manager of CPEC and assistant to the president of CITVC, among other executives from these organizations.

This collaboration marks the final step in a four-year endeavor to commonly 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 is very interested in the fast-growing Chinese market, particularly the business potential of its increasingly open media environment. The Cisneros Group is internationally known for its intense global growth strategy and the popularity of its programming. The company currently provides broadcasting in 104 countries and more than 20 different languages.

CCTV is commonly recognized for the high quality of its productions and its wide-ranging global footprint. The company capitalizes on the world audience's interest in China due to its powerful presence in the world economy and fascinating culture.

 

All eyes are definitely on China right now, with the opening of the 2008 Olympic Games in Beijing.

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.

China Central TV (CCTV) is China's largest national TV network, operating 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.

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 CEO and Chairman, Gustavo Cisneros. Venevision International distributes television programming throughout the world and is one of the largest independent producers of television programs in Spanish.

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.