BEIJING, May 29, 2015 /PRNewswire/ -- China Digital TV
Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the
"Company"), the leading provider of cloud-based application
platforms and conditional access ("CA") systems which enable
China's digital cable television
market to offer and secure diversified content services, and
Shanghai Tongda Venture Capital Co., Ltd. ("Tongda Venture") (SSE:
600647), a company listed on the Shanghai Stock Exchange to which
the Company will sell a portion of its assets to in an ongoing
transaction, today announced that they will co-invest in a fund
which will invest in opportunities that are leading in the
transformation of China's digital
TV industry.
Initially, China Digital TV and Tongda will invest RMB100 million and RMB200
million in the fund, respectively, as limited partners.
Shoutai Jinxin, a fund management company, will be the general
partner. The fund aims to raise approximately RMB3 billion. China Digital TV will work closely
with the general partner and leverage its rich experience in the
digital television industry to contribute to the success of the
fund.
"As our asset restructuring with Tongda moves forward, we are
pleased to also co-invest with them in this fund and support
opportunities in the exciting emerging frontier of digital TV
solutions," said Dr. Zengxiang Lu,
China Digital TV's acting chief executive officer. "Furthermore, we
believe the success of the fund will help to promote the business
development of both our company and Tongda Venture going
forward."
About China Digital TV
Founded in 2004, China Digital TV enables television network
operators to manage, extend and diversify content services across
households and public areas in China. China Digital TV is the leading
provider of cloud-based application platforms and network
broadcasting platform ("NBP") services to Chinese cable operators,
helping them to effectively bring mobile gaming apps and other
entertainment options to household television sets, and extend
cable programming outside the home to any mobile device. China
Digital TV is also the leading provider of CA systems in
China's digital television market.
CA systems enable television network operators to secure the
delivery of content to their subscribers. The Company cooperates
with nearly all of China's cable
television operators.
For more information please visit the Investor Relations section
of China Digital TV's website at http://ir.chinadtv.cn.
For investor and media inquiries, please contact:
China Digital TV Holding Co., Ltd.
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
Email: ir@chinadtv.cn
ICR, Inc.
Charles Eveslage
Tel: +1 (646) 328-1950
Email: stv@icrinc.com
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SOURCE China Digital TV Holding Co., Ltd.