CCTV, Venevision sign TV deal

Pact at Olympics promotes Chinese, Venezuelan culture

BEIJING -- China Central Television and Venezuela's Venevision International will distribute each other's television programming thanks to a deal signed on the sidelines of the 2008 Summer Olympics.

State-run CCTV and Venevision, owned by entrepreneur Gustavo Cisneros, will "pool their resources" in an effort to improve awareness of both Hispanic and Chinese culture, the companies said Monday.

The deal was signed by Cisneros and CCTV president Zhao Huayong, who were accompanied by officials from Venevision and CITVC, the distributor of CCTV's programming outside China.

No details were offered, but the statement said that Cisneros "views the fast-growing Chinese market with intense interest, given the business potential of its increasingly open media environment."

Venevision owner the Cisneros Group distributes programming in 104 countries and more than 20 languages. CCTV operates 16 channels across China and broadcasts channels in Spanish, French and English inside China and overseas.