BesTV Completes Historic Joint Venture in China

​BesTV New Media Co., Ltd. obtained the business license for its new joint venture with Microsoft at the opening ceremony of the Shanghai Free Trade Zone (SFTZ). The joint venture, E-Home Entertainment Development, is among the first group of companies registered by the SFTZ. Furthermore, E-Home Entertainment Development received the first business license to be issued by the SFTZ. The total investment in the joint venture is $237 million. Our firm advised BesTV on legal matters related to the joint venture.

E-Home Entertainment Development will engage in sales, distribution and marketing activities with respect to Microsoft’s new generation of all-in-one game products, and will provide services related to the products. This also represents a potential lift on China’s ban on foreign game console sales. It is speculated that E-Home Entertainment will have an advantage against Sony and Nintendo, who have not indicated any immediate plans to sell in the SFTZ.