NEW YORK (CelebrityAccess MediaWire) — IMG Worldwide, Inc.and China Central Television (CCTV), announced the formation of a joint venture to create, develop and promote sporting events and sports programming across China, including Taiwan, Hong Kong and Macau. The joint venture has a 20-year term and is exclusive to IMG and CCTV. It also marks the first time that a company based outside of China (IMG) has been chosen to participate in an exclusive, multi-year, multi-sport joint venture with CCTV.
This partnership, 'CCTV-IMG Sports Management Company,' will own and produce a series of live sporting events and television/multimedia programming that will serve as a completely new platform for a broad range of corporate sponsors in the region following the Beijing 2008 Olympic Games. IMG's extensive knowledge and experience in designing, staging and operating sporting events will be linked influence and expansive reach of CCTV and its 17 national channels and array of cable networks, which combined currently reach more than one billion people. The joint venture will be headquartered in Beijing. –by CelebrityAccess Staff Writers