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| Boosting Ecosystem Supply-chain in China to Support Coming Ubiquitous Mobile Data Services Satisfying Billion Users to Freely Access Services |
HONG KONG, Oct 20, 2014 - (ACN Newswire) - CMMB VISION HOLDINGS LTD. ("CMMB Vision", Stock Code: 471.HK), has reached agreement with Shanghai Jiaotong University to develop China's next generation of satellite-based mobile multimedia technology standard (the "Standard"), subsequent to the announcement of the acquisition of 7 city TV stations in US market. Based on the current terrestrial and satellite technology standard and capable, both CMMB Vision and Shanghai Jiaotong University will rapidly develop the next generation of satellite-based mobile multimedia technology standard and capable in order to satisfy the ample demand arising from future development of multimedia and big-data services.
Evolving from the current CMMB standard, the Company is also in partnership with SARFT of China to develop the Next Generation Broadcasting - Wireless (NGB-W) standard as well as its convergence with 4G/LTE so as to unify the power of broadcasting with the interactive flexibility of unicasting.
The Standard will be adopted by the Company's planned L-band geosynchronous satellite-based mobile multimedia platform in China. The development of a unified technology standard is a crucial and necessary step in driving China's ecosystem support toward the Company's planned satellite deployment in China. The technology standard is expected to be embedded in future consumer mobile devices such as smartphones, tablets, car radios, and mobile set-top boxes as a standard feature so as to enable over a billion of mobile users in China to freely access the Company's proposed satellite-based universal mobile multimedia and big-data services.
As the Company expects to expand its services to the rest of Asia and other international markets, the Company will endeavor to promote the technology standard to be adopted as a global standard.
Mr. Charles (Chau-Chi) Wong, the Founder and President of CMMB Vision, said "This unified technology standard will further propel the development of the ecosystem supply chain of 3-in-1 network (Telecommunication network, Broadcasting network and Internet), which can eventually provide a large amount of low cost devices connected with the Group's satellite multimedia platform. In the future, together with the rapid development of cultural industry and more diversified mobile devices in China, there will have ample demand in multimedia and big-data services and create huge growth potential to the industry. Therefore, insertion of chip with advanced transmission technology and low cost advantage to existing consumer devices (such as such as smartphone, tablet, and car-mounts, and mobile set-top boxes) as a common feature just like 3G/4G and WiFi will enable such devices all support the Company's satellite-based service. We believe that a wide adoption of the technology standard in the next generation of consumer devices, if materialized, will help shorten product development cycle and accelerate the commercialization of the Company's proposed satellite service to over 1 billion mobile users in China, further promote the Group's competitive advantage."
Cooperating with a Leading Chinese State-level Media Group to Develop and Operate Satellite-based Mobile Multimedia Services Nationwide in China
In the meanwhile, the Company has also entered into an MOU with a leading Chinese State-level media group to develop and operate satellite-based mobile multimedia services nationwide in China. CMMB believes it can quickly reach commercial operation given China's huge internal mobile media and Internet service demand, vast and low-cost mobile ecosystem, and government support. A trial network in Beijing is being established currently.
Covering 30% US TV Households with Ample Business Growth Potential
CMMB Vision not only endeavors to develop its satellite-terrestrial convergent mobile multimedia services platform in China for over 1 billion mobile users with unparalleled freely access data services, but also rapidly develops its US business. Together with the other 6 city TV stations to be acquired as previously announced, the current New York network and the newly proposed acquisition of L.A. TV Station will let the Group to have one of the largest UHF TV spectrum networks across the US, covering the top 8 cities and approximately 30% of TV households. The network is expected to initially operate as a free-to-air TV broadcasting network and eventually be transformed into a next generation mobile multimedia network. The Group intends to equip the network with its groundbreaking NGB-W mobile convergent technology, which will adapt to and cross-operate with the Group's proposed satellite-terrestrial convergent mobile technology platform and ecosystem being developed in China, in order to build a global mobile multimedia platform.
Pursuant to the Supplemental Agreement of TV stations acquisition (the "Acquisition"), as a result of the inclusion of the LA Station as part of the subject matter of the Acquisition, the total consideration for the Acquisition will be US$77.48 million, which will be settled in cash and the issue of convertible notes. After the completion of the Acquisition and full conversion of the convertible notes, Chi Capital, the controlling shareholder, will own 61.59% of the issued share capital of the Group.
Mr. Charles Wong, said "Los Angeles is the second largest city and the city with the largest ethnic population in the US. The inclusion of the LA Station to the Group's portfolio of television stations will enlarge the coverage of the Group's television network and enhance the diversity for service, thereby greatly enhance the value of the Group's network of television stations in the US as a whole. We are planning to acquire more TV stations in the US with the aim of building the largest TV network in the US. The Acquisition will serve as an integral part of the Group's international spectrum acquisition strategy in developing a global and universal mobile network. Through the unified satellite and terrestrial network infrastructure, we will be able to provide multimedia and data services anytime anywhere to consumers and further strengthen the Group's leading position in the mobile multimedia market."
Topic: Press release summary
Source: CMMB Vision Holdings Limited
Sectors: Daily Finance, Broadcast, Film & Sat, Daily News
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From the Asia Corporate News Network
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