August 08., 2008
Venezuela's Cisneros Group and state-owned China Central Television agreed to develop more programs, including prime-time soap operas, under a deal to be signed next week.
The agreement will cover sales of programming from Venevision International, a Cisneros Group unit, in China and the distribution of China Central TV programs in Latin America, the Venezuelan company said. The accord, scheduled to be signed Monday in China, may include co-productions, Cisneros said.
Gustavo Cisneros, the Venezuelan billionaire who heads the company, is seeking access to the growing Chinese advertising market. The companies have worked together for four years and co-produced a documentary on the Yangtze River.
''Cisneros Group looks at the Chinese market with high interest, given the business potential of an increasingly open environment,'' the company said in an e-mailed statement.
Chinese audiences appreciate drama and Venevision's soap operas may be produced in local versions, said Antonia Lopez, vice president of corporate affairs for Cisneros, in an e-mail. China Central Television has 209 stations in the country, Cisneros said.