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Bilibili Buying 10% Stake in Huanxi Media

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variety.com
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Patrick Frater Asia Bureau ChiefChinese short video platform Bilibili is to buy a nearly 10% share in production company and specialist streaming platform Huanxi Media.

It will pay $66 million (HK$513 million) for the stake.The two companies will also sign a five-year co-operation deal that will give Bilibili and Huanxi’s own streaming platform exclusive rights to film and TV content flowing from Huanxi’s production stable.Among Huanxi’s biggest backers are director Ning Hao (“Crazy Alien,” “No Man’s Land”) and actor-producer Xu Zheng (“Lost In Thailand,” “Dying to Survive”), and Bilibili will also get priority investment position in their works.Huanxi says that it expects “Run For Young,” a wholly-owned internet drama series will be among.

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