Starclouds will host and operate the exhibitions in Mainland China (excluding Hong Kong, Taiwan and Macau) for two years on an exclusive licence from the date of the operating of the first exhibition.
“The first exhibition is expected to be open in December 2016,” said Star Media Group’s Singapore-listed subsidiary Cityneon Holdings Ltd. VHE is a unit of Cityneon.
VHE had on Wednesday signed a non-binding term sheet with Starclouds for the touring exhibitions.
The term sheet is subject to the execution of a definitive exhibition tour agreement by 30 April 2016.
Starclouds is owned by its founders and state-owned company under the purview of office of People’s Government of Beijing Municipality.
The key management includes Li Yao Han, the chairman of Starclouds, and he was also the previous founder and Chairman of Wanda Cinema Line and former senior vice president of Wanda Group.
Starclouds’ CEO is Charles Lyu, a 14 year veteran in the entertainment industry in China and was Wanda’s first general manager of the joint-venture project between Wanda and Franco Dragone Group.
In November last year, Cityneon signed with US-based Hasbro Inc and Hasbro International Inc to secure the exclusive global rights to display the highly-popular Transformers characters using revolutionary technologies such as 3D, robotics and multimedia.
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