China’s Huayi Brothers to Acquire Ticketing Company

SHANGHAI — Huayi Brothers Media is to acquire a controlling stake in online ticketing company Shenzhen Huayu Communications Technology.

Huayi, one of China’s leading film production and distribution companies, is to pay RMB 266 million ($42.9 million) for a 51% stake in the firm which trades as Maizuo.

The move is intended to counter-balance Huayi’s traditional film activities, expand its Internet businesses and dilute the dependence of its digital business unit on games.

Huayi also has a growing cinema exhibition unit.

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