Dr Peng Telecom and Media will acquire 9.09% stake in Galaxy Internet TV for CNY 30 million (USD 4.88 million). This agreement will enable the companies to jointly expand their internet television services.
Dr Peng will support Galaxy by providing broadband network resources, technology support, marketing and promotional activities. And Galaxy Internet TV will facilitate Dr Peng to achieve nationwide layout and implementation for its internet TV ‘Cloud Management’ terminals.
Galaxy Internet TV is an OTT license and content service provider for OTT, Smart TV and other content streaming devices in China. The company was jointly set up by China National Radio, Jiangsu Radio Television Station and iQiyi.com. On August 27, Dr Peng had signed a capital injection agreement with the three shareholders of Galaxy.
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