The Cisneros Group of Companies and China Central Television (CCTV), the principal media company in the People’s Republic of China, signed a groundbreaking agreement during the 2008 Summer Olympic Games in Beijing, allowing CCTV and Venevision International, a Cisneros Group Company, to pool their resources to distribute television programming in their respective markets, in an effort to improve awareness of both Hispanic and Chinese culture.
This breakthrough agreement for the international media industry — between two of the world great cultures – was signed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of Companies and Mr. Zhao Hua Yong, President of CCTV, accompanied by Mr. Li Jian, President of China International Television Corporation, Mr. Luis Villanueva, President of Venevision International and Mr. Ma Runsheng, General Manager of CPEC and Assistant to the President of CITVC, among other executives from these organizations.
This is the final step in a four-year effort to mutually open the Chinese and Ibero-american markets, led by Venevision International, the entertainment company of the Cisneros Group, and CITVC, the corporation that owns the rights to and distributes CCTV’s programming worldwide.
Gustavo Cisneros views the fast-growing Chinese market with intense interest, given the business potential of its increasingly open media environment. The Cisneros Group is internationally known for its aggressive global growth strategy and the popularity of its programming, broadcasting in 104 countries and more than 20 different languages.