Joint venture will operate 'King of Kings 3'

China’s Huayi Bros. has paid RMB 70 million ($10.5 million) for a 51% stake in a gaming company it is setting up with online games group Giant Interactive to operate Giant’s “King of Kings 3.”

Beijing Huayi Information Technology will also produce games based on Huayi Bros.’ TV and film output.

The deal is Huayi’s latest venture into gaming. In June it spent $22 million on a 22% stake in cell phone game company, Beijing OurPalm.

Giant, listed on the New York Stock Exchange, operates several games including “ZT Online,” “The Golden Land” and “XT Online.”

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