SHANGHAI, Sept. 30, 2011 /PRNewswire-Asia-FirstCall/ --
The9 Limited (NASDAQ: NCTY) ("The9"), an online game developer and
operator in China, announced today
that The9, Red 5 Singapore Pte. Ltd. ("Red 5 Singapore"), a
wholly-owned subsidiary of The9, and other subsidiaries of The9
have entered into a series of agreements with Webzen, Inc.
("Webzen"), pursuant to which Webzen will assign the license of
Firefall, a team-based action shooter computer game developed by
Red 5 Studios, Inc. ("Red 5"), to Red 5 Singapore.
The transactions among the parties will be closed upon
satisfaction of several conditions, including withdrawal of the
claims made by Red 5 and Webzen in the
United States and Korea. Upon closing, Red 5 will continue
to have the publishing right in the
United States, Canada and
European countries, Red 5 Singapore will be substituted in full for
Webzen as a party under the Game Development and License Agreement
between Red 5 and Webzen, including the publishing rights in all of
the countries worldwide other than the
United States, Canada and
European countries, as well as all the intellectual properties
related to Firefall. Webzen will no longer be involved in marketing
and publishing Firefall in any territory.
Under the agreements, Webzen will receive compensation for the
prior development fees paid to Red 5, and The9 will guarantee the
payment. Webzen will also share in future revenue generated
from Firefall for a certain period of time.
About The9 Limited
The9 Limited is an online game operator and developer in
China. The9 directly, or through
affiliates, operates licensed MMORPGs including Soul of The
Ultimate Nation™, Atlantica and Kingdom Heroes 2 Online in mainland
China. The9 has also obtained
exclusive licenses to operate other online games in mainland
China, including Seoyugi,
Planetside 2 and Free Realms. In addition, The9 operates its
proprietary MMORPG World of Fighter, web and social games Tiny
Kingdoms and Winning Goal in mainland China and overseas. The9 is also developing
various proprietary games, including ShenXianZhuan, Firefall and
other MMORPGs, web and social games. In 2010, The9 established its
Mobile Business Unit to focus on mobile internet business.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. The9 may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission on Forms 20-F and
6-K, etc., in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about The9's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to, political
and economic policies of the Chinese government, the laws and
regulations governing the online game industry, information
disseminated over the Internet and Internet content providers in
China, intensified government
regulation of Internet cafes, The9's ability to retain existing
players and attract new players, license, develop or acquire
additional online games that are appealing to users, anticipate and
adapt to changing consumer preferences and respond to competitive
market conditions, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange Commission,
including its annual reports on Form 20-F. The9 does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
For further information, please contact:
Ms. Phyllis Sai
Manager, Investor Relations
The9 Limited
Tel: +86 (21) 5172-9990
Email: IR@corp.the9.com
Website: http://www.corp.the9.com/
SOURCE The9 Limited