Fox, CJ Media To Launch Pan-Asian GE Channel
tvN Asia to launch before end 2008
Hong Kong: FOX International Channels (“FIC”), operator of more than 140 channels in 32 languages across the globe, and CJ Media, Korea’s leading media major, have decided to deepen their existing partnership by entering a joint venture to launch tvN Asia - a pan-Asian version of Korea’s leading entertainment channel. tvN Asia promises to add an exciting, new flavor to FIC Asia’s existing bouquet of channels.
tvN is the highest rated General Entertainment channel in Korea with a distribution of more than 14 million households. More than 80% of the programming on tvN is either self-produced or fully commissioned by CJ Media, and as a result tvN owns all rights to these contents including formats, non-linear (VOD, SVO, FOD) and mobile. The channel offers exclusive, self produced drama, variety, reality & lifestyle programs. Widely known as one of the most creative and controversial program producers in Korea, tvN out-performed in the Korean pay TV market with Scandal, the record-breaking reality program, and with the daily entertainment channel tvN E News.
FIC operates 25 channels in the Asia-Pacific & Middle East region under the various FOX Entertainment and National Geographic brands (including FOX, FOXCrime, FX, FOXLife, FOX Movies, National Geographic Channel, Nat Geo Wild, Nat Geo Adventure, Nat Geo Music, Nat Geo HD and Baby TV). In the region, FIC has offices in Hong Kong, Seoul, Tokyo, Shanghai, Beijing, Taipei, Singapore, Bangkok, Delhi, Mumbai, Dubai, Cairo and Sydney.
tvN Asia, slated for launch by end 2008, will carry programming targeted at Korean entertainment lovers looking to extend their Korean television experience beyond the traditional, terrestrial content and also offer viewers in other parts of Asia an opportunity to experience Korean popular culture. The line-up will include original Korean dramas, never-seen-before reality shows, daily Korean entertainment news, all-original Korean TV movies, etc. The channel is expected to carry local language versioning for key markets in the form of subtitling and/or dubbing.
Earlier today, officials from both companies signed the letter of intent to formalize their agreement. Commenting on the occasion Ward Platt, Group Managing Director, Fox International Channels Group Asia Pacific, said, “The demand for compelling Korean programming is ever increasing. CJ Media is bringing a great brand and compelling content to this partnership, while FIC is contributing its distribution, sales, marketing and operating experience across the Asian region. This joint venture will create a formidable partnership between a leading international broadcaster and a Korean media major, offering the best-in-class Korean entertainment to Asian audiences.”
Commenting on the new JV, Richard Shim, EVP of CJ Media said “tvN Asia is truly ground-breaking news for the Korean pay TV industry. We are honoured to be at the front line in the globalization of Korea’s entertainment channels”. He added “CJ Media is thrilled to be in partnership with Fox International Channels, an opportunity which will further CJ Media’s international plans and bring tvN closer to millions of homes around the world”.
FIC and CJ Media are currently partners in Korea on the National Geographic Channel business. tvN Asia is the second JV between the parties, and will bring the Korean Wave to all viewers across the Asia Pacific region.