SMG, Yoshimoto form JV for China content
Shanghai Media Group to hold 55 percent of partnershipTOKYO – Japan’s leading talent agency, Yoshimoto Kogyo, has formed a joint venture with Shanghai Media Group to produce programming and advertising for distribution in China, the companies announced Friday.
SMG will own 55%, with Yoshimoto controlling the remainder.
"We will jointly look at whether Japanese TV programs can be localized for Chinese viewers,” Yoshimoto Kogyo President Hiroshi Osaki told a Tokyo press conference on Friday.
The new company will aim to attract advertising from Japanese firms targeting the growing Chinese market, as well as manage Chinese talent. Content from the joint venture, and acquired in Japan, is expected to be broadcast through a new Chinese satellite channel by the end of the year - and also online in the future.
Yoshimoto, which was taken over earlier this year in a 54 billion yen ($617 million) deal by a consortium of all the major Japanese TV stations, Softbank, Yahoo Japan and ad-giant Dentsu, has been focusing on overseas expansion.
In 2008 Yoshimoto signed a deal with Hollywood’s CAA on creating variety TV programming, which is expected to be on air within the year.