Baseball
Major League Baseball announced 2007 regular season total attendance of 79.5 million, up 4.5% from last year and up 18% from just five years ago. Four teams, the Chicago Cubs, St. Louis Cardinals, Boston Red Sox and San Francisco Giants, sold more than 95% of their available ticket inventory, while four other teams topped 90%. Minor League Baseball also posted its fourth straight overall attendance record, with clubs combining to draw 42.8 million, up 2.6% from 2006. (MLB Press Release, 11/2/07)
As part of its continued efforts to grow the game of baseball globally, the International Baseball Federation (IBAF) introduced a new online identity, www.IBAF.TV, which was timed to coincide with the kickoff of the 37th IBAF Baseball World Cup in Taiwan. (MLB Press Release, 11/9/07)
MLB announced that the Boston Red Sox will face the Oakland Athletics in Tokyo, Japan on 3/25-26/08 to open the 2008 MLB Season. Both MLB clubs will also play two games against teams from Nippon Professional Baseball (NPB). (MLB Press Release, 11/14/07)
The Cleveland Indians signed Japanese closer Masahide Kobayashi to a two-year contract through the 2009 season with a club option for 2010. The deal is reportedly worth $6.25 million with Kobayashi earning $3 million in each of the next two seasons and the 2010 club option worth $3.25 million with a $250,000 buyout. Kobayashi (age 33) spent the last nine seasons for the Chiba Lotte Marines of the Japanese Pacific League where he averaged over 30 saves over each of the last seven seasons from 2001-2007. (JapanBall.com, 11/20/07)
In addition to the Japanese players recently signed by MLB teams, there are other top free agents, including: Kosuke Fukudome, OF, Chunichi Dragons; Hiroki Kuroda, RHP, Hiroshima Carp; Kenshin Kawakami, RHP, Chunichi Dragons; Masafumi Hirai, RHP, Chunichi Dragons; Takahiro Arai, 1B-3B, Hiroshima Carp; Kazuhiro Wada, OF, Seibu Lions; and Kazuo Fukumori, Rakuten Golden Eagles. (USA Today, 11/23/07)
Nippon Ham Fighters RHP Darvish Yu became the second youngest MVP in Japanese baseball history when he was named the Pacific League MVP for the 2007 season after going 15-5 with a 1.82 ERA in 26 starts. He led the PL with 210 strikeouts and 12 complete games and had the second best ERA in the league. Teammate and PL batting champion Atsunori Inaba finished second. Yomiuri Giants third baseman Michihiro Ogasawara won his second consecutive MVP award when he was named the Central League MVP after hitting .313 with 31 homers and 88 RBIs in 142 games. Teammate and closer Koji Uehara finished second. The Rookie of the Year awards went to Hanshin Tigers RHP Keiji Uezono
(8-5, 2.42 ERA) and Rakuten Eagles RHP Masahiro Tanaka (11-7, 3.82 ERA and 196 SO). (JapanBall.com, 11/28/07)
Los Angeles Dodgers assistant general manager Kim Ng has been chosen to be part of the Young Leaders Forum for The National Committee on US-China Relations (www.ncuscr.org). The Young Leaders Forum (YLF), now in its sixth year, provides an opportunity to enhance the dialogue between the two countries and build lasting economic, geopolitical and cultural ties among the people of both nations. (Los Angeles Times, 11/28/07)
The Kansas City Royals announced the signing of RHP Yasuhiko Yabuta to a $6 million, two-year contract. He will compete for a spot as the team's primary setup man. Trey Hillman, who spent the past five years managing the Nippon Ham Fighters before being hired last month by the Royals, was helpful in persuading Yabuta to come to Kansas City. (JapanBall.com, 11/28/07)
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Basketball
The National Basketball Association and Fujian Peak Group Co. ("Peak"), an athletic footwear company, have agreed to a new multi-year marketing partnership in China. Peak, who signed Shane Battier to an endorsement deal in 2006, started in the early 90's when it became China's first corporation to manufacture large-sized sports shoes. The company has also been the official sponsor for the FIBA Basketball European League All Star Games since 2005. (NBA Press Release, 11/6/07)
According to press reports, each of the 17 teams in the Chinese Basketball Association (CBA) will have to guarantee airtime before being allowed into next season's league due to low ratings and decreased marketing opportunities within the CBA as a result of the departure of stars like LiJiang Yi (Milwaukee Bucks) and Yao Ming (Houston Rockets) to the NBA. Unlike in the US, where broadcasters pay huge sums for the rights to broadcast the NBA, CBA teams have to pay local TV stations to cover their games. For example, the Fujian Sports Channel charged over $40K for live coverage of home and away games last year. This means problems for teams like Fujian Xunxing, Shaanxi Dongsheng, Yunnan Honghe, Shanxi Zhongyu, Zhejiang Horses and Zhejiang Guangsha, all of which failed to reach any agreement with local television stations last season. Two years ago, CBA viewership peaked at 315 million but saw only 250 million people last season. (This according to www.sina.com, citing data from Infront, the Swiss sports management group which manages the CBA.) This year, the CBA season is being shortened by three months to allow for the national team's Olympic preparations. State broadcaster China Central Television (CCTV) will broadcast 96 NBA games this season, but only 41 CBA games, many of which will be cut short to give equal billing to gymnastics and table-tennis. (VarietyAsiaOnline.com, 11/30/07)
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Golf
The golf industry in China faces a severe blow if changes to a land usage tax are implemented in the coming months. Under the changes, golf courses and properties such as apartment complexes will be taxed for each square meter of land used with only "countryside" courses exempt. This tax would be in addition to an already existing 23+% tax that golf clubs are subject to as "entertainment venues," similar to discos and karaoke bars. (Golfweek, 11/4/07)
After months of negotiations Quiksilver agreed to sell Cleveland Golf to SRI Sports, parent of Srixon, for $132.5 million. Quiksilver acquired Cleveland Golf when it purchased Rossignol Group in June 2005. (GolfWorld.com, 11/9/07)
The LPGA Tour announced its policy for drug testing that will begin in February 2008, making it the first pro golf organization to require randomly selected players to prove that they are "clean." The policy is similar to the outline released by the PGA Tour, which will not begin testing its players until July 2008. The LPGA will suspend players one year for a first positive test, two years for the second offense and a lifetime ban for any more violations. It will not discriminate between performance-enhancing drugs and recreational drugs. (Los Angeles Times, 11/15/07)
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Other Sports
NBC's Action Sports Tour and Beijing Xingyi New Media Investment Co. announced plans for AST China to be held in Beijing in April 2008. The deal gives Xingyi control of sponsorship and media rights in China for the event while it pays a licensing and sanctioning fee to AST for running the competition. AST retains international media rights for the event. AST China will feature vert and park skateboarding competitions showcasing 8 to 10 AST Dew Tour athletes and 4 Asian athletes. (Sports Business Journal, 11/4/07)
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China
China Mobile, the country's largest mobile network, revealed that it is in talks with Apple to distribute the iPhone in China, although no deal is in place and revenue-sharing issues are still being discussed. China Mobile says it has around 350 million subscribers, almost 1.5 the size of the entire U.S. market, its existing mobile music service has over 60 million users, and it has sold more than 240 million ringtones. (Digital Media Wire, 11/13/07)
Linktone, a provider of mobile entertainment and advertising services in China, announced that Indonesian media firm PT Media Nusantara Citra (MNC) has agreed to purchase at least 51% of its outstanding shares. MNC is the largest and only integrated media company in Indonesia, with business operations in content production and distribution, TV networks, newspapers, tabloids, radio networks and online media. (Digital Media Wire, 11/28/07)
Billionaire Hong Kong businessman Li Kai-Shing has reportedly invested $60M in social networking website Facebook in a deal that may pave the way for cooperation between Facebook and Tom.com, an Internet group that Li controls. The deal would appear to give Li no more than a 0.4% stake in the company although he may have an option to invest a further $60 million. Microsoft recently paid $240 million for a 1.6% stake, which would value Facebook at $15 billion. (VarietyAsiaOnline.com, 11/30/07)
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India
Indian sports broadcaster Nimbus was forced to sell its rights as official 'revenue-management company' for cricket's India-Pakistan series to Indian public-service broadcaster Doordarshan following a court ruling that the broadcaster who manages to bring in the most money from sponsors and advertisers gets the rights to marketing the tournament. As such, Doordarshan and Neo Sports will sell advertising and sponsorships independently on their respective channels. (SportBusiness.com, 11/5/07)
Satyam Computer Services, the Indian IT company, signed up as a sponsor for the FIFA World Cup and Official IT Services Provider to the 2010 World Cup in South Africa and the 2014 World Cup in Brazil. (SportBusiness.com, 11/27/07)
The Board of Control for Cricket in India (BCCI) fixed a minimum price for the TV rights for its new Indian Premier League (IPL) cricket tournament at a minimum price of $59 million for the first year of a desired five-year deal. (SportBusiness.com, 11/28/07)
Paramount Digital Entertainment has agreed to a deal with Hungama Mobile to develop and distribute Paramount-branded mobile and interactive content in India. The move is seen as a sign that the studio, a late-bloomer in Asia, is getting serious about expansion in a market that will see the fastest theatrical growth in Asia in the coming five years. The country's one billion people spend $2 billion on movie tickets each year, a figure which is expected to increase 30% by 2012. Hollywood movies have a market share less than 10% of total box office in the country. (VarietyAsiaOnline.com, 11/29/07)
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Japan
Booming overseas sales and a favorable currency rate helped send Toyota to a fiscal first-half profit record. Toyota appears to remain on track to surpass General Motors as the world's top automaker for a full-year as soon as later this year. The company also raised its forecast for the full fiscal year. (Los Angeles Times, 11/8/07)
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Korea
Universal Parks & Resorts agreed on plans to build a $3.2 billion theme park just south of Seoul, Korea. The park is set to open in 2012 and will include hotels, a convention center, golf courses, and an outlet mall. (Los Angeles Times, 11/27/07)
KBS World, an international channel operated by Korean pubcaster KBS, will begin broadcasting to viewers in southern California through Time Warner Cable on 12/1/07. The deal adds 2 million subscribers in 216 cities to bring the channel's reach in the U.S. to 20 million viewers. KBS World debuted in the US in 2004 and is available in New York, New Jersey, Washington D.C., Atlanta, Chicago, Hawaii, and through the DISH Network. It has set a goal of 50 million U.S. subscribers by 2010. (VarietyAsiaOnline.com, 11/30/07)
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Other Business
The market for premium mobile content in the Asia-Pacific region grew 57.4% in 2006 to $5.98 billion, an estimated $4.62 billion of which went to third-party content providers as opposed to being retained by mobile operators, according to a report from Frost & Sullivan. Mobile entertainment services accounted for 68.5% of total premium content revenues ($4.09 billion), with mobile music and video representing 12.1% ($495 million). The firm predicts that revenue from mobile music and video applications in the region will grow to 21.6% ($3.1
billion) of the total $22.38 billion market by 2012. (Digital Media Wire, 11/5/07)
Friday, November 30, 2007
Wednesday, October 31, 2007
October 2007
Baseball
2006 Central League MVP Kosuke Fukudome (OF, Chunichi Dragons) and Takahiro Arai (3B, Hiroshima Carp) are among the 68 players eligible to become free agents this year. Fukudome is 29 days short of the service time needed for free agency in Japanese baseball, but he gained eligibility under a new rule aimed at helping injured players. Other players meeting the free agency requirements for the first time include Hitoki Iwase (RP, Chunichi Dragons), Kazuhiro Wada (OF, Seibu Lioins), Masahide Kobayashi (RP, Lotte Marines), Tsuyoshi Shimoyanagi (SP, Hanshin Tigers), Daisuke Miura (SP, Yokohama BayStars), and Hiroki Kuroda (SP, Hiroshima Carp). Those players who file for free agency during seven business days after the end of the Japan Series will be allowed to negotiate a deal with any team, either in Japan or abroad, after their
names are posted by the commissioner's office as free agents. (Japanball.com, 10/22/07)
Major League Baseball International and Shanghai Media Group reached a three-year agreement this season that has the 2007 World Series being broadcast live in its entirety on Great Sports, China's leading cable sports channel. The agreement was launched in July with coverage of the 2007 All-Star Game and has continued on a weekly basis with a China-specific edition of "This Week in Baseball." The World Series, MLB All-Star Game and TWIB will air on Great Sports through 2009. (MLB Press Release, 10/22/07)
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Basketball
Following in the footsteps of the NBA, executives from Euroleague Basketball have met with city and sporting officials from Shanghai to forge sporting and business ties. A delegation, including Jordi Bertomeu, the Euroleague Basketball CEO, was in Shanghai for the first CBA-Euroleague Challenge, an event facilitated by Infront Asia's joint-venture with the Chinese Basketball Association. During the tournament, in which Benetton Basket Tamoil and CSKA Moscow faced Team China and the Sydney Kings, the parties discussed the joint development of events with the objective of promoting European basketball in Asia. (Sportbusiness.com, 10/1/07)
Following the hiring of Timothy Chen as CEO NBA China, NBA Commissioner David Stern elaborated on the league's long-term plans for settingup "the second NBA, the NBA of China." Stern said the project was "long-term," will involve working with the 16-team China Basketball Association, and that the NBA was seeking financing partners. 90% of the new subsidiary will be owned by the league while two 5% shares will be sold to Chinese investors and to a U.S. media company, reported to be the Walt Disney Company. (Sportbusiness.com, 10/17/07)
The NBA China Games 2007 were held between the Orlando Magic, Cleveland Cavaliers and the Team China All-Stars in Shanghai and Macao from 10/17-20/07. The games aired nationwide on CCTV5 while the Shanghai Media Group and Guangdong TV aired each of the games locally in Shanghai and the Guangdong province, respectively. Last season, the NBA added 24 TV partners in China and currently has relationships with 51 TV stations that provided NBA programming to 34 million viewers per week and more than 1.2 billion viewers for the 2006-07 season. According the league, there are 300million people playing basketball in China with approximately 80% of males 15-24 in the top 11 cities of China considering themselves NBA fans and 20% of traffic to NBA.com coming from China. (Sportbusiness.com, 10/18/07)
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Golf
In March 2008, Gatorade will launch 'Gatorade Tiger', a new drink developed in conjunction with golfing superstar Tiger Woods, marking the golfer's first US deal with a beverage company. Financial terms of the deal were not disclosed, but Golfweek magazine reported it was for five years and could pay Woods as much as $100 million. (Sportbusiness.com, 10/17/07)
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Other Sports
The 2008 Beijing Olympic Games are expected to break TV advertising records with over $182 billion being spent next year, up from $169.9 billion in 2007, according to ZenithOptimedia. (Sportbusiness.com, 10/3/07)
VANOC, the organizing committee for the 2010 Olympic and Paralympic Winter Games in Vancouver, Canada said that it will exceed its 2007 sponsorship target of $65 million by at least $15 million. The overall sponsorship revenue target is $760 million. (Sportbusiness.com, 10/22/07)
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China
China Minsheng Banking Corp. agreed to purchase a 9.9% stake in UCBH of San Francisco, the parent of United Commercial Bank, in the first US strategic investment by a mainland Chinese bank. Earlier this year, UCBH purchased Shanghai-based Business Development Bank for $205 million. (Los Angeles Times, 10/9/07)
YUM Brands, the operator of KFC, Taco Bell, and Pizza Hut, reported a 28% profit growth in its China division and 21% growth in its international division, compared to only 1% growth in the US operation, for the latest quarter. (Wall Street
Journal, 10/9/07)
Alibaba.com, the Chinese leader in online business-to-business service, announced plans for an initial public offering which is expected to raise as much as $1.3billion, the largest ever by a Chinese internet company. In August 2005, Yahoo! swapped $1billion and its China unit for a 40% stake in the parent company of Alibaba.com. (Wall Street Journal, 10/22/07)
Citic Securities Co., China's government controlled investment bank, and Bear Stearns agreed to invest $1billion in each other, giving the US firm an entrance into the insular Chinese financial sector. Under the deal, Citic will acquire between a 6-9% stake and Bear Stearns will acquire between a 2-5% stake in the other entity. The companies also agreed to jointly offer capital marketing services across Asia. (Los Angeles Times, 10/23/07)
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Japan
Wal-Mart announced it would spend $875million to take full-ownership of its money-losing Japanese subsidiary Seiyu Ltd. Wal-Mart has stuck with the Seiyu brand, familiar to Japanese, instead of using the Wal-Mart name, but Seiyu has struggled amid intense competition from smaller retail chains, as well as from major local companies that are introducing larger stores and price cutting. (Los Angeles Times, 10/23/07)
2006 Central League MVP Kosuke Fukudome (OF, Chunichi Dragons) and Takahiro Arai (3B, Hiroshima Carp) are among the 68 players eligible to become free agents this year. Fukudome is 29 days short of the service time needed for free agency in Japanese baseball, but he gained eligibility under a new rule aimed at helping injured players. Other players meeting the free agency requirements for the first time include Hitoki Iwase (RP, Chunichi Dragons), Kazuhiro Wada (OF, Seibu Lioins), Masahide Kobayashi (RP, Lotte Marines), Tsuyoshi Shimoyanagi (SP, Hanshin Tigers), Daisuke Miura (SP, Yokohama BayStars), and Hiroki Kuroda (SP, Hiroshima Carp). Those players who file for free agency during seven business days after the end of the Japan Series will be allowed to negotiate a deal with any team, either in Japan or abroad, after their
names are posted by the commissioner's office as free agents. (Japanball.com, 10/22/07)
Major League Baseball International and Shanghai Media Group reached a three-year agreement this season that has the 2007 World Series being broadcast live in its entirety on Great Sports, China's leading cable sports channel. The agreement was launched in July with coverage of the 2007 All-Star Game and has continued on a weekly basis with a China-specific edition of "This Week in Baseball." The World Series, MLB All-Star Game and TWIB will air on Great Sports through 2009. (MLB Press Release, 10/22/07)
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Basketball
Following in the footsteps of the NBA, executives from Euroleague Basketball have met with city and sporting officials from Shanghai to forge sporting and business ties. A delegation, including Jordi Bertomeu, the Euroleague Basketball CEO, was in Shanghai for the first CBA-Euroleague Challenge, an event facilitated by Infront Asia's joint-venture with the Chinese Basketball Association. During the tournament, in which Benetton Basket Tamoil and CSKA Moscow faced Team China and the Sydney Kings, the parties discussed the joint development of events with the objective of promoting European basketball in Asia. (Sportbusiness.com, 10/1/07)
Following the hiring of Timothy Chen as CEO NBA China, NBA Commissioner David Stern elaborated on the league's long-term plans for settingup "the second NBA, the NBA of China." Stern said the project was "long-term," will involve working with the 16-team China Basketball Association, and that the NBA was seeking financing partners. 90% of the new subsidiary will be owned by the league while two 5% shares will be sold to Chinese investors and to a U.S. media company, reported to be the Walt Disney Company. (Sportbusiness.com, 10/17/07)
The NBA China Games 2007 were held between the Orlando Magic, Cleveland Cavaliers and the Team China All-Stars in Shanghai and Macao from 10/17-20/07. The games aired nationwide on CCTV5 while the Shanghai Media Group and Guangdong TV aired each of the games locally in Shanghai and the Guangdong province, respectively. Last season, the NBA added 24 TV partners in China and currently has relationships with 51 TV stations that provided NBA programming to 34 million viewers per week and more than 1.2 billion viewers for the 2006-07 season. According the league, there are 300million people playing basketball in China with approximately 80% of males 15-24 in the top 11 cities of China considering themselves NBA fans and 20% of traffic to NBA.com coming from China. (Sportbusiness.com, 10/18/07)
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Golf
In March 2008, Gatorade will launch 'Gatorade Tiger', a new drink developed in conjunction with golfing superstar Tiger Woods, marking the golfer's first US deal with a beverage company. Financial terms of the deal were not disclosed, but Golfweek magazine reported it was for five years and could pay Woods as much as $100 million. (Sportbusiness.com, 10/17/07)
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Other Sports
The 2008 Beijing Olympic Games are expected to break TV advertising records with over $182 billion being spent next year, up from $169.9 billion in 2007, according to ZenithOptimedia. (Sportbusiness.com, 10/3/07)
VANOC, the organizing committee for the 2010 Olympic and Paralympic Winter Games in Vancouver, Canada said that it will exceed its 2007 sponsorship target of $65 million by at least $15 million. The overall sponsorship revenue target is $760 million. (Sportbusiness.com, 10/22/07)
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China
China Minsheng Banking Corp. agreed to purchase a 9.9% stake in UCBH of San Francisco, the parent of United Commercial Bank, in the first US strategic investment by a mainland Chinese bank. Earlier this year, UCBH purchased Shanghai-based Business Development Bank for $205 million. (Los Angeles Times, 10/9/07)
YUM Brands, the operator of KFC, Taco Bell, and Pizza Hut, reported a 28% profit growth in its China division and 21% growth in its international division, compared to only 1% growth in the US operation, for the latest quarter. (Wall Street
Journal, 10/9/07)
Alibaba.com, the Chinese leader in online business-to-business service, announced plans for an initial public offering which is expected to raise as much as $1.3billion, the largest ever by a Chinese internet company. In August 2005, Yahoo! swapped $1billion and its China unit for a 40% stake in the parent company of Alibaba.com. (Wall Street Journal, 10/22/07)
Citic Securities Co., China's government controlled investment bank, and Bear Stearns agreed to invest $1billion in each other, giving the US firm an entrance into the insular Chinese financial sector. Under the deal, Citic will acquire between a 6-9% stake and Bear Stearns will acquire between a 2-5% stake in the other entity. The companies also agreed to jointly offer capital marketing services across Asia. (Los Angeles Times, 10/23/07)
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Japan
Wal-Mart announced it would spend $875million to take full-ownership of its money-losing Japanese subsidiary Seiyu Ltd. Wal-Mart has stuck with the Seiyu brand, familiar to Japanese, instead of using the Wal-Mart name, but Seiyu has struggled amid intense competition from smaller retail chains, as well as from major local companies that are introducing larger stores and price cutting. (Los Angeles Times, 10/23/07)
Sunday, September 30, 2007
September 2007
Baseball
The Chinese National Team will become the first international team to participate in the Arizona Fall League (AFL), continuing the ongoing effort by MLB to help develop the squad as it trains for the 2008 Olympic Games in Beijing. The 16th season of the AFL will begin on 10/9/07. Team USA, a national team of non-40-man-roster players from MLB organizations, also will participate in the AFL. Former Major League manager Jim Lefebvre and pitching coach Bruce Hurst will lead the Chinese team on the field. Team China is training at the complex of the San Diego Padres in Peoria, Arizona. (MLB Press Release, 9/25/07)
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Basketball
The NBA and the Walt Disney Company, the sponsor of the NBA's 2004 "China Games" that sent the Sacramento Kings and the Houston Rockets to Beijing and Shanghai for two games, are nearing a deal that has the entertainment giant buying a minority stake in the league's nascent NBA China entity. The dollar value of Disney's expected investment is not known, but some estimates have the value of NBA's China operations at up to $2 billion. (Sports Business Journal, 9/19/07)
The NBA has named Tim Chen, CEO of Microsoft Greater China, as CEO of NBA China, a new enterprise created in April to encapsulate all of the league's businesses in Greater China. NBA China will be governed by a Board of Directors that will include NBA owners, representatives of outside investors as well as Commissioner David Stern, Adam Silver, and Heidi Ueberroth, among others. The NBA is conducting more than 170 special events in 112 cities in Greater China including the NBA China Games 2007, three pre-season games in Shanghai and Macao in October. (Sportbusiness.com, 9/19/07)
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Other Sports
Tokyo formally submitted its candidacy to host the 2016 Summer Olympics, with local government proposing to build a new main stadium in the Harumi waterfront district for the opening and closing ceremonies and the track and field events. Tokyo is bidding against Rio de Janeiro, Prague, Chicago and Qatari capital Doha for the right to host the Games. The International Olympic Committee will select a host city in October 2009. (Sportbusiness.com, 9/12/07)
The Chinese National Team will become the first international team to participate in the Arizona Fall League (AFL), continuing the ongoing effort by MLB to help develop the squad as it trains for the 2008 Olympic Games in Beijing. The 16th season of the AFL will begin on 10/9/07. Team USA, a national team of non-40-man-roster players from MLB organizations, also will participate in the AFL. Former Major League manager Jim Lefebvre and pitching coach Bruce Hurst will lead the Chinese team on the field. Team China is training at the complex of the San Diego Padres in Peoria, Arizona. (MLB Press Release, 9/25/07)
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Basketball
The NBA and the Walt Disney Company, the sponsor of the NBA's 2004 "China Games" that sent the Sacramento Kings and the Houston Rockets to Beijing and Shanghai for two games, are nearing a deal that has the entertainment giant buying a minority stake in the league's nascent NBA China entity. The dollar value of Disney's expected investment is not known, but some estimates have the value of NBA's China operations at up to $2 billion. (Sports Business Journal, 9/19/07)
The NBA has named Tim Chen, CEO of Microsoft Greater China, as CEO of NBA China, a new enterprise created in April to encapsulate all of the league's businesses in Greater China. NBA China will be governed by a Board of Directors that will include NBA owners, representatives of outside investors as well as Commissioner David Stern, Adam Silver, and Heidi Ueberroth, among others. The NBA is conducting more than 170 special events in 112 cities in Greater China including the NBA China Games 2007, three pre-season games in Shanghai and Macao in October. (Sportbusiness.com, 9/19/07)
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Other Sports
Tokyo formally submitted its candidacy to host the 2016 Summer Olympics, with local government proposing to build a new main stadium in the Harumi waterfront district for the opening and closing ceremonies and the track and field events. Tokyo is bidding against Rio de Janeiro, Prague, Chicago and Qatari capital Doha for the right to host the Games. The International Olympic Committee will select a host city in October 2009. (Sportbusiness.com, 9/12/07)
Friday, August 31, 2007
August 2007
China
NetEase.com, the Chinese provider of online games and other Internet services, reported that 2007 2Q net profit decreased slightly ($41.1 million vs. $41.3 million) compared to the same quarter in 2006 due to increased competition in the Chinese Internet industry. The company said it planned to expand its game portfolio, develop its Internet portal business, and generate more revenue from its email business. (Wall Street Journal, 8/6/07)
McDonalds is joining forces with the International Olympic Committee and China Central Television to produce a reality show-style competition that will award 300 children the chance to attend the 2008 Beijing Olympics. Children across China will take exams and participate in an art and essay competition in which they try to impress judges by explaining what the Beijing Olympics theme, "One World, One Dream," means to them. Chinese students along with children from the rest of the world will then compete is a series of televised contests, from quiz shows to athletic competitions, to determine the winners. McDonalds, who has fewer outlets in China than its main rival, Yum Brands' KFC, plans to increase outlets in China from 810 to over 1000 by the time the Beijing Olympics begin in 8/08. (Wall Street Journal, 8/9/07)
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Japan
The top two banks in Japan, Mitsubishi UFJ Financial Group and Mizuho Financial Group, reported sharp declines in their earnings for the 2006 April-June quarter, indicating that they are struggling to expand their businesses despite rising interest rates in the country. Both banks said that exposure to securities related to US subprime debt did not have a discernible impact on earnings. (Wall Street Journal, 8/1/07)
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Other Business
Hollywood producers Bob and Harvey Weinstein have launched a $285 million fund that will invest in Asian-themed projects, including an action film about Chinese folk heroine Hua Mulan, a remake of the 1954 Akira Kurosawa classic "The Seven Samurai," and "The Forbidden Kingdom," featuring Jackie Chan and Jet Li, which is currently filming in China. The company said its hopes to take advantage of lower costs by shooting in Asia, while adding a "Western sensibility" to produce movies that appeal to Asian and Western markets. (Wall Street
Journal, 8/9/07)
NetEase.com, the Chinese provider of online games and other Internet services, reported that 2007 2Q net profit decreased slightly ($41.1 million vs. $41.3 million) compared to the same quarter in 2006 due to increased competition in the Chinese Internet industry. The company said it planned to expand its game portfolio, develop its Internet portal business, and generate more revenue from its email business. (Wall Street Journal, 8/6/07)
McDonalds is joining forces with the International Olympic Committee and China Central Television to produce a reality show-style competition that will award 300 children the chance to attend the 2008 Beijing Olympics. Children across China will take exams and participate in an art and essay competition in which they try to impress judges by explaining what the Beijing Olympics theme, "One World, One Dream," means to them. Chinese students along with children from the rest of the world will then compete is a series of televised contests, from quiz shows to athletic competitions, to determine the winners. McDonalds, who has fewer outlets in China than its main rival, Yum Brands' KFC, plans to increase outlets in China from 810 to over 1000 by the time the Beijing Olympics begin in 8/08. (Wall Street Journal, 8/9/07)
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Japan
The top two banks in Japan, Mitsubishi UFJ Financial Group and Mizuho Financial Group, reported sharp declines in their earnings for the 2006 April-June quarter, indicating that they are struggling to expand their businesses despite rising interest rates in the country. Both banks said that exposure to securities related to US subprime debt did not have a discernible impact on earnings. (Wall Street Journal, 8/1/07)
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Other Business
Hollywood producers Bob and Harvey Weinstein have launched a $285 million fund that will invest in Asian-themed projects, including an action film about Chinese folk heroine Hua Mulan, a remake of the 1954 Akira Kurosawa classic "The Seven Samurai," and "The Forbidden Kingdom," featuring Jackie Chan and Jet Li, which is currently filming in China. The company said its hopes to take advantage of lower costs by shooting in Asia, while adding a "Western sensibility" to produce movies that appeal to Asian and Western markets. (Wall Street
Journal, 8/9/07)
Tuesday, July 31, 2007
July 2007
Baseball
The Japan Professional Baseball Players Association (JPBPA) voted unanimously for greater rights for players regarding free agency and a range of other issues, moving a step nearer to launching a court battle in an effort to improve player status. The JPBPA plans to file a lawsuit by the end of the year and continue labor-management talks with Nippon Professional Baseball even after court action starts. It has already brought the issue of control of players' imaging rights to court, with action currently being taken in the Intellectual Property High Court. (Japan Times, 7/21/07)
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Other Sports
General Motors said it would not renew its $1 billion sponsorship of the US Olympic Committee when its contract ends after 2008 as a result of changes in its marketing strategy. (Wall Street Journal, 7/8/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
In another move that blurs the line between advertising and media content, WPP Group is producing its own reality television show in China, along with RTL Group, sports-media company Kickworldwide, and state-owned Hunan TV, entitled "Soccer Prince," which will narrow a nation of young soccer players down to two stars, who will win yearlong apprenticeships with two English Premier League soccer teams, Everton and Bolton Wanderers. Nike has signed up as one of the initial sponsors. (Wall Street Journal, 7/7/07)
Baidu.com, the Chinese Internet-search provider, reported that its 2Q 2007 net profit more than doubled from a year earlier ($18.8 million), as it accounted for 58% of revenue in China's Internet-search market, ahead of US-based Google's 23%. (Wall Street Journal, 7/27/07)
The Japan Professional Baseball Players Association (JPBPA) voted unanimously for greater rights for players regarding free agency and a range of other issues, moving a step nearer to launching a court battle in an effort to improve player status. The JPBPA plans to file a lawsuit by the end of the year and continue labor-management talks with Nippon Professional Baseball even after court action starts. It has already brought the issue of control of players' imaging rights to court, with action currently being taken in the Intellectual Property High Court. (Japan Times, 7/21/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
General Motors said it would not renew its $1 billion sponsorship of the US Olympic Committee when its contract ends after 2008 as a result of changes in its marketing strategy. (Wall Street Journal, 7/8/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
In another move that blurs the line between advertising and media content, WPP Group is producing its own reality television show in China, along with RTL Group, sports-media company Kickworldwide, and state-owned Hunan TV, entitled "Soccer Prince," which will narrow a nation of young soccer players down to two stars, who will win yearlong apprenticeships with two English Premier League soccer teams, Everton and Bolton Wanderers. Nike has signed up as one of the initial sponsors. (Wall Street Journal, 7/7/07)
Baidu.com, the Chinese Internet-search provider, reported that its 2Q 2007 net profit more than doubled from a year earlier ($18.8 million), as it accounted for 58% of revenue in China's Internet-search market, ahead of US-based Google's 23%. (Wall Street Journal, 7/27/07)
Saturday, June 30, 2007
June 2007
Baseball
The New York Yankees signed Chinese amateur players pitcher Kai Liu and catcher Zhenwang Zhang to minor-league contracts. Lui (age 19) had been playing in the Chinese Baseball League with the Guangdong Leopards and was chosen to participate as a member of China's National Team. Zhang (age 19) helped lead the Tianjin Lions to the league championship in three of the past five seasons and played in the 2006 World Baseball Classic. (CBS Sportsline.com, 6/18/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
Infront Sports & Media, the exclusive marketing partner to the China Basketball Association and China's national basketball team, has signed a deal with Excel Sports Management to develop an athlete representation basketball business in China. Excel currently represents NBA players Jason Kidd, Paul Pierce, Lamar Odom, among others. (Sportbusiness.com, 6/20/07)
Golf
Korean male K.J. Choi shot a final round 7-under 65 enroute to winning the Memorial Tournament at the Muirfield Village Golf Club in Dublin, Ohio. The win was Choi's 5th career victory on the PGA Tour, and earned him $1.08 million. (Yahoo!Sports, 6/3/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
The Beijing Olympic Organizing Committee has hired Aramark to provide food services in the athletes village, media villages, international broadcast center and main press center during the 2008 Summer Games in Beijing, China. (Sports Business Journal, 6/10/07)
ESPN is buying Cric-info.com, the worlds largest specialist cricket website from British publishing company Wisden Group. Cric-info.com was founded in 1993 and has more than 7 million users each month. (Los Angeles Times, 6/12/07)
Yahoo! announced that it will acquire online college and high school sports site Rivals.com, which offers editorial content, college message boards, and extensive recruitment news on a network of more than 150 websites attracting over a combined 2 million unique visitors per month. (Digital Media Wire, 6/21/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Google and Sina, the operator of China's most visited web portal, announced plans to cooperate on search services and advertising, giving the US-based search giant an ally as it seeks to wrest market share in China from local search leader Baidu.com. (Wall Street Journal, 6/12/07)
The New York Yankees signed Chinese amateur players pitcher Kai Liu and catcher Zhenwang Zhang to minor-league contracts. Lui (age 19) had been playing in the Chinese Baseball League with the Guangdong Leopards and was chosen to participate as a member of China's National Team. Zhang (age 19) helped lead the Tianjin Lions to the league championship in three of the past five seasons and played in the 2006 World Baseball Classic. (CBS Sportsline.com, 6/18/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
Infront Sports & Media, the exclusive marketing partner to the China Basketball Association and China's national basketball team, has signed a deal with Excel Sports Management to develop an athlete representation basketball business in China. Excel currently represents NBA players Jason Kidd, Paul Pierce, Lamar Odom, among others. (Sportbusiness.com, 6/20/07)
Golf
Korean male K.J. Choi shot a final round 7-under 65 enroute to winning the Memorial Tournament at the Muirfield Village Golf Club in Dublin, Ohio. The win was Choi's 5th career victory on the PGA Tour, and earned him $1.08 million. (Yahoo!Sports, 6/3/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
The Beijing Olympic Organizing Committee has hired Aramark to provide food services in the athletes village, media villages, international broadcast center and main press center during the 2008 Summer Games in Beijing, China. (Sports Business Journal, 6/10/07)
ESPN is buying Cric-info.com, the worlds largest specialist cricket website from British publishing company Wisden Group. Cric-info.com was founded in 1993 and has more than 7 million users each month. (Los Angeles Times, 6/12/07)
Yahoo! announced that it will acquire online college and high school sports site Rivals.com, which offers editorial content, college message boards, and extensive recruitment news on a network of more than 150 websites attracting over a combined 2 million unique visitors per month. (Digital Media Wire, 6/21/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Google and Sina, the operator of China's most visited web portal, announced plans to cooperate on search services and advertising, giving the US-based search giant an ally as it seeks to wrest market share in China from local search leader Baidu.com. (Wall Street Journal, 6/12/07)
Thursday, May 31, 2007
May 2007
Baseball
Japan's Pacific League has created Pacific League Marketing, a joint licensing company focused primarily on digital media and wireless content as part of a broader effort to prop up the wavering economic fortunes of the Japanese Baseball League. Loosely modeled after MLB Advanced Media and MLB Properties, the 6 teams in the league have combined to make an initial investment of about $500,000. With the exception of the Yomiuri Giants, most Japanese baseball teams have operated at a loss throughout the years. (Sports Business Journal, 5/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
The National Basketball Players Association has struck a business development deal with International Trust & Investment Corp.'s Citic Guoan Group, China's largest state-run investment company, to develop business opportunities for active and retired NBA players in China. (Sportbusiness.com, 5/10/07)
Tapping Chinese basketball star Yao Ming of the Houston Rockets as an equity partner, 24 Hour Fitness plans to open 20-30 workout facilities in the next five years throughout China. (Sports Business Journal, 5/20/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Football
The NFL has agreed to a deal with Titan Media, the largest and most widely read sports newspaper in China, to increase the coverage of the NFL and American football. (Sportbusiness.com, 5/3/07)
The Arena Football League will face expiration of the patent for its game system, including its rules, netting and goal post configuration, on 9/30/07. The Arena Football Game System made the AFL the only sports league in history to play in a patent-protected game. (Sports Business Journal, 5/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
IMG announced its acquisition of Collegiate Licensing, the largest collegiate trademark licensing agency in the US, in a deal marking IMG's first foray into college sports, which the company believes has high-growth marketing potential, particularly overseas. (Wall Street Journal, 5/1/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Avon reported that 1Q net income nearly tripled as the company saw strong international sales, particularly in China and Russia. Asian-Pacific sales soared 44% in China, reflecting further expansion of the company's direct-selling business, which contributed more than 50% of region's quarterly revenue. (Wall Street Journal, 5/2/07)
In a historic prelude to the Beijing Olympics, China will be represented in its first Rose Parade float in conjunction with Avery Dennison, a company based in Pasadena, California. (Los Angeles Times, 5/19/07)
Televisa, the Mexican TV network, announced a deal with the Chinese government to make Chinese versions of its most successful programming, including its soap operas, or novellas, which are already dubbed into more than 50 languages. (Los Angeles Times, 5/31/07)
Japan's Pacific League has created Pacific League Marketing, a joint licensing company focused primarily on digital media and wireless content as part of a broader effort to prop up the wavering economic fortunes of the Japanese Baseball League. Loosely modeled after MLB Advanced Media and MLB Properties, the 6 teams in the league have combined to make an initial investment of about $500,000. With the exception of the Yomiuri Giants, most Japanese baseball teams have operated at a loss throughout the years. (Sports Business Journal, 5/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
The National Basketball Players Association has struck a business development deal with International Trust & Investment Corp.'s Citic Guoan Group, China's largest state-run investment company, to develop business opportunities for active and retired NBA players in China. (Sportbusiness.com, 5/10/07)
Tapping Chinese basketball star Yao Ming of the Houston Rockets as an equity partner, 24 Hour Fitness plans to open 20-30 workout facilities in the next five years throughout China. (Sports Business Journal, 5/20/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Football
The NFL has agreed to a deal with Titan Media, the largest and most widely read sports newspaper in China, to increase the coverage of the NFL and American football. (Sportbusiness.com, 5/3/07)
The Arena Football League will face expiration of the patent for its game system, including its rules, netting and goal post configuration, on 9/30/07. The Arena Football Game System made the AFL the only sports league in history to play in a patent-protected game. (Sports Business Journal, 5/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
IMG announced its acquisition of Collegiate Licensing, the largest collegiate trademark licensing agency in the US, in a deal marking IMG's first foray into college sports, which the company believes has high-growth marketing potential, particularly overseas. (Wall Street Journal, 5/1/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Avon reported that 1Q net income nearly tripled as the company saw strong international sales, particularly in China and Russia. Asian-Pacific sales soared 44% in China, reflecting further expansion of the company's direct-selling business, which contributed more than 50% of region's quarterly revenue. (Wall Street Journal, 5/2/07)
In a historic prelude to the Beijing Olympics, China will be represented in its first Rose Parade float in conjunction with Avery Dennison, a company based in Pasadena, California. (Los Angeles Times, 5/19/07)
Televisa, the Mexican TV network, announced a deal with the Chinese government to make Chinese versions of its most successful programming, including its soap operas, or novellas, which are already dubbed into more than 50 languages. (Los Angeles Times, 5/31/07)
Monday, April 30, 2007
April 2007
Baseball
It was revealed that Japan's Seibu Lions paid rewards to 170 managers at amateur teams for their help in acquiring players over a 27-year period from 1978 to 2005. (Daily Yomiuri Online, 4/5/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
Pearl River Brewery has agreed to become the official beer of Team China Basketball in a deal brokered by Infront Sports & Media, the exclusive marketing partner of the Chinese Basketball Association. (Sportbusiness.com, 4/6/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
CBS acquired MaxPreps.com, a high school network that provides scores, schedules, rankings and streaming videos, and will fold it under their CSTV unit. (Wall Street Journal, 4/12/07)
China's National Stadium Co. said the naming rights for the 91,000-seat Olympic Stadium in Beijing will be sold after the 2008 Summer Games with no restriction on foreign companies. (Sports Business Journal, 4/21/07)
ESPN Star Sports announced plans to launch Star Cricket, a dedicated cricket channel in India, in June 2007. ESPN Star Sports acquired the rights for the International Cricket Council (ICC), including the next two World Cups in 2011 and 2015, in a $1.1 billion deal. (Sportbusiness.com, 4/26/07)
The first 40,000 tickets for the New York Giants-Miami Dolphins game at Wembley Stadium in London on 10/28/07 sold out in 90 minutes. Those tickets were sold to European fans who had registered for a drawing to purchase tickets. (Sports Business Journal, 4/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Ticketmaster is expanding its presence in China by helping to build a ticketing infrastructure for a joint venture formed by the Nederlanders, a major Broadway theatrical family, to present Broadway-style shows in China. (Wall Street Journal, 4/12/07)
Gome Electrical Appliances, China's largest electrical-appliance retailer, said net profit rose 64%, helped by China's booming consumer-electronics retail industry. (Wall Street Journal, 4/20/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
India
Hershey Co. agreed to pay about $60 million for a 51% equity stake in Godrej Beverages & Food, an Indian company that will help the US chocolate maker gain access to a fast-growing confectionary market. (Wall Street Journal, 4/13/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Business
Marvel Entertainment has reached a deal with Al Ahli Group from United Arab Emirates (UAE) to license its superheroes, including Spider-Man, the X-Men, the Incredible Hulk, and the Fantastic Four, to a new theme park in Dubai. (Wall Street Journal, 4/12/07)
It was revealed that Japan's Seibu Lions paid rewards to 170 managers at amateur teams for their help in acquiring players over a 27-year period from 1978 to 2005. (Daily Yomiuri Online, 4/5/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
Pearl River Brewery has agreed to become the official beer of Team China Basketball in a deal brokered by Infront Sports & Media, the exclusive marketing partner of the Chinese Basketball Association. (Sportbusiness.com, 4/6/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
CBS acquired MaxPreps.com, a high school network that provides scores, schedules, rankings and streaming videos, and will fold it under their CSTV unit. (Wall Street Journal, 4/12/07)
China's National Stadium Co. said the naming rights for the 91,000-seat Olympic Stadium in Beijing will be sold after the 2008 Summer Games with no restriction on foreign companies. (Sports Business Journal, 4/21/07)
ESPN Star Sports announced plans to launch Star Cricket, a dedicated cricket channel in India, in June 2007. ESPN Star Sports acquired the rights for the International Cricket Council (ICC), including the next two World Cups in 2011 and 2015, in a $1.1 billion deal. (Sportbusiness.com, 4/26/07)
The first 40,000 tickets for the New York Giants-Miami Dolphins game at Wembley Stadium in London on 10/28/07 sold out in 90 minutes. Those tickets were sold to European fans who had registered for a drawing to purchase tickets. (Sports Business Journal, 4/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Ticketmaster is expanding its presence in China by helping to build a ticketing infrastructure for a joint venture formed by the Nederlanders, a major Broadway theatrical family, to present Broadway-style shows in China. (Wall Street Journal, 4/12/07)
Gome Electrical Appliances, China's largest electrical-appliance retailer, said net profit rose 64%, helped by China's booming consumer-electronics retail industry. (Wall Street Journal, 4/20/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
India
Hershey Co. agreed to pay about $60 million for a 51% equity stake in Godrej Beverages & Food, an Indian company that will help the US chocolate maker gain access to a fast-growing confectionary market. (Wall Street Journal, 4/13/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Business
Marvel Entertainment has reached a deal with Al Ahli Group from United Arab Emirates (UAE) to license its superheroes, including Spider-Man, the X-Men, the Incredible Hulk, and the Fantastic Four, to a new theme park in Dubai. (Wall Street Journal, 4/12/07)
Saturday, March 31, 2007
March 2007
Baseball
MLB hosted the Chinese National Baseball Team for Spring Training in the United States and, for the first time, provided an opportunity for China's National Team players to train with various Major League Clubs, alongside professional players as teammates. A delegation of 37 players, coaches and officials trained at Scottsdale Community College under the tutelage of manager Jim Lefebvre, and pitching coach Bruce Hurst. MLB has supplied Lefebvre and Hurst to lead the China National Team program since 2003, and they will lead China into its first Olympic Games baseball tournament in the 2008 Beijing Olympics. (MLB Press Release, 3/13/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
The William Morris Agency and NBA player agent Dan Fegan have signed Yi Jianlian, a 7-foot power forward from China, who is expected to be a top draft pick in the 2007 NBA Draft. Yi led his team, the Guangdong Tigers, to three consecutive Chinese Basketball Association championships and is ranked #7 by NBADraft.net. (Sports Business Journal, 3/18/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Football
The NFL cancelled its planned pre-season exhibition game in China that was scheduled to take place in August 2007 in order to better focus its resources on the October 2007 game in London, the first regular-season game ever played outside the US. (SportBusiness.com, 3/4/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
The Ultimate Fighting Championship (UFC) has agreed to purchase Japan-based Pride Fighting Championships for $65 million. Both the UFC and Pride stage MMA (mixed martial arts) bouts. (Sports Business Journal, 3/25/07)
The Chelsea Football Club has launched a Korean-language website following its five-year partnership with Samsung, which began in 2005. In January 2007, the club unveiled its Mandarin-language website for the Chinese market. (SportBusiness.com, 3/27/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Focus Media, which is China's third largest advertising company, has agreed to acquire Chinese online advertising firm Allyes Information Technology for upto $300 million. Focus runs a network of thousand of flat screen TV's that display ads in stores, offices, theatres and apartment buildings, while Allyes is a provider of internet technology which allows advertisers to control creative production, ad tracking, targeting and performance analysis. (VarietyAsiaOnline.com, 3/2/07)
Fearful of soaring internet addiction and juvenile crime, China has banned the opening of new internet cafes in 2007. Currently, there are over 111,300 internet cafes and bars in China. (Reuters, 3/6/07)
Bear Stearns plans to form a $500 million fund to seek investments in China in a partnership with Huang Guangyu, one of China's most successful retailing entrepreneurs and founder of Gome Electrical Appliances Holding, the largest Chinese electronics retailer. (Wall Street Journal, 3/20/07)
IDG, Hearst, and News Corp. have invested in the New China Media Fund, which plans to release movies in China in theatres simultaneously with their DVD releases in a bid to stem piracy. (Digital Media Wire, 3/21/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Japan
Matsuzakaya Holdings has agreed to a takeover by Daimaru in a deal valued at over $1.58 billion that would create Japan's biggest department-store chain. (Wall Street Journal, 3/15/07)
MLB hosted the Chinese National Baseball Team for Spring Training in the United States and, for the first time, provided an opportunity for China's National Team players to train with various Major League Clubs, alongside professional players as teammates. A delegation of 37 players, coaches and officials trained at Scottsdale Community College under the tutelage of manager Jim Lefebvre, and pitching coach Bruce Hurst. MLB has supplied Lefebvre and Hurst to lead the China National Team program since 2003, and they will lead China into its first Olympic Games baseball tournament in the 2008 Beijing Olympics. (MLB Press Release, 3/13/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
The William Morris Agency and NBA player agent Dan Fegan have signed Yi Jianlian, a 7-foot power forward from China, who is expected to be a top draft pick in the 2007 NBA Draft. Yi led his team, the Guangdong Tigers, to three consecutive Chinese Basketball Association championships and is ranked #7 by NBADraft.net. (Sports Business Journal, 3/18/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Football
The NFL cancelled its planned pre-season exhibition game in China that was scheduled to take place in August 2007 in order to better focus its resources on the October 2007 game in London, the first regular-season game ever played outside the US. (SportBusiness.com, 3/4/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
The Ultimate Fighting Championship (UFC) has agreed to purchase Japan-based Pride Fighting Championships for $65 million. Both the UFC and Pride stage MMA (mixed martial arts) bouts. (Sports Business Journal, 3/25/07)
The Chelsea Football Club has launched a Korean-language website following its five-year partnership with Samsung, which began in 2005. In January 2007, the club unveiled its Mandarin-language website for the Chinese market. (SportBusiness.com, 3/27/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Focus Media, which is China's third largest advertising company, has agreed to acquire Chinese online advertising firm Allyes Information Technology for upto $300 million. Focus runs a network of thousand of flat screen TV's that display ads in stores, offices, theatres and apartment buildings, while Allyes is a provider of internet technology which allows advertisers to control creative production, ad tracking, targeting and performance analysis. (VarietyAsiaOnline.com, 3/2/07)
Fearful of soaring internet addiction and juvenile crime, China has banned the opening of new internet cafes in 2007. Currently, there are over 111,300 internet cafes and bars in China. (Reuters, 3/6/07)
Bear Stearns plans to form a $500 million fund to seek investments in China in a partnership with Huang Guangyu, one of China's most successful retailing entrepreneurs and founder of Gome Electrical Appliances Holding, the largest Chinese electronics retailer. (Wall Street Journal, 3/20/07)
IDG, Hearst, and News Corp. have invested in the New China Media Fund, which plans to release movies in China in theatres simultaneously with their DVD releases in a bid to stem piracy. (Digital Media Wire, 3/21/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Japan
Matsuzakaya Holdings has agreed to a takeover by Daimaru in a deal valued at over $1.58 billion that would create Japan's biggest department-store chain. (Wall Street Journal, 3/15/07)
Wednesday, February 28, 2007
February 2007
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Baseball
The New York Yankees and the Chinese Baseball Association (CBA) announced a landmark agreement that for the first time formalized a strategic alliance between an MLB club and the CBA. Under the agreement, the Yankees will provide the CBA with guidance in training baseball players, which will include sending staff (coaches, player development, scouting and training personnel) to China to assist the CBA, while allowing the CBA to send staff to the Yankees' facilities in the United States in furtherance of those goals. (Yahoo! Sports, 1/30/07)
The New York Yankees have been awarded the 2008 Major League Baseball All-Star Game and will host the Midsummer Classic at Yankee Stadium on July 15, 2008, during the final year that the ballpark will be open. (MLB Press Release, 1/31/07)
Fenway Sports Group (FSG), a subsidiary of New England Sports Ventures, which owns the Boston Red Sox, added a top NASCAR team, Roush Racing, to its portfolio, in a deal that marks the first time that an ownership group of one of the four major North American Leagues has crossed over into the world of NASCAR. Under the deal, Red Sox owner John Henry and FSG acquired a 50% stake in the racing team, which will be known as the Roush Fenway Racing team, and FSG will support the team’s marketing and sales activities. (Yahoo! Sports, 2/2/07)
Boston.com entered into a content-sharing agreement with Go-RedSox.com, a Japanese- language baseball site with excerpts from MLB coverage translated into Japanese for readers worldwide. (Sports Business Journal, 2/5/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Basketball
The National Basketball Association (NBA) and Inner Mongolia Mengniu Dairy Industry Group announced a new marketing partnership, where Mengniu will be the “Official Dairy Product of the NBA in China,” and will launch a series of social programs targeting over 500 elementary schools across China that will combine nutrition and sports to promote a healthy lifestyle for children. (NBA Press Release, 1/21/07)
China’s junior national boys’ basketball team traveled to the Spalding-sponsored United States Basketball Academy Institute near Eugene, Oregon and now is being featured on a Chinese reality TV show called “China Hoops-American Dream.” The three-episode series follows more than 40 top Chinese basketball players during their experience in the US. (Sports Business Journal, 1/28/07)
The NBA hired Goldman Sachs to advise on the league's China business, which is estimated to be worth over $1billion, and may include Goldman taking an equity stake in the league's China ventures. (Sports Business Journal, 2/18/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Golf
Puma signed Japanese golfer Hideto Tanihara to an endorsement agreement and will supply the golfer with golf footwear and apparel in 2007. Tanihara has won four tour titles in Japan and was second on the Japan money list in 2006. (Apparel Wire, 1/28/07)
LPGA rookie Song-Hee Kim has secured a $1million, 2-year sponsorship deal with Fila Korea in the largest endorsement deal for a rookie Korean golfer since Se Ri Pak signed with CJ Group in 1998. (Golf World, 2/1/07)
Representatives from the golf division of Octagon have made visits to La Costa and Trump National with sights set on helping to create an early 2008 LPGA West Coast Swing that would fill in gaps between the two season opening tournaments in Hawaii and a late March event in Phoenix. (Golf Week, 2/3/07)
The LPGA Foundation has expanded its board for the first time in its 16-year history from 4 to 10 members with the addition of Betsy King (US Solheim Cup team captain); James Eden (president, Eden & Associates); Karen Furtado (vice president, CGI); Mareb Hoke (president, Mareb Foundation); Lewis C. Horne, Jr. (partner, Troutman Sanders); and Kathryn H. Milthrope (managing director of community and government affairs, International Speedway Corporation). (Golf Week, 2/3/07)
The China Golf Association and the Royal & Ancient Golf Club announced a deal to provide expert rules instructions, structured learning materials, and a system to accredit national and international referees. (GolfWorld.com, 2/23/07)
The China Golf Association and TaylorMade-Adidas Golf announced a deal where the equipment manufacturer will offer clubs and apparel to China's national teams and provide a "major financial investment" in youth group programs. (GolfWorld.com, 2/23/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Other Sports
ESPN announced that has signed a multiyear deal with Verizon Wireless to host its Mobile ESPN service. Previously, ESPN invested over $150 million to develop the wireless service on its own, but decided to shut down in September 2006 due to lack of subscribers. (Digital Media Wire, 2/8/07)
Chinese PC maker Lenovo is continuing to expand its sponsorship portfolio with a recent agreement to pay about $190 million over the next five years to Williams F1 Racing. Activation of the sponsorship will include print advertising and use of F1-themed mobile marketing in areas such as airports with a high density of business travelers.
(Sports Business Journal, 2/11/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China
Chinese Web portal Sohu.com reported that Q4 earnings fell by 32% due to higher costs associated with Chinese government regulations on registration and billing, despite an increase of 23% in ad sales and an overall 16% increase in revenue. (Wall Street Journal, 1/21/07)
McDonald’s announced they would open more than 50 drive-through outlets in China this year in conjunction with gas retailer Sinopec. (Wall Street Journal, 1/24/07)
The number of internet users in China jumped 23% last year to over 137 million people, covering 10.5% of the country’s population. China is the world’s second-largest Internet market after the US. (Wall Street Journal, 1/25/07)
In preparation for the 2008 Summer Olympics, Beijing city officials announced they will step up efforts to fine spitters as much as 50 yuan ($6.45) when they are caught doing the act in public. At the same time, municipal authorities also announced “Queuing Day,” which on the 11th of each month, city residents will be encouraged to stand in line at subway stops, post offices, and various other places in an effort to encourage citizens to behave better as the Olympic Games near. The 11th was chosen because the two “1’s” look like they are standing neatly in line. (Wall Street Journal, 1/28/07)
ESPN and Star Sports were the only channels among a group of foreign networks that did not have their broadcast licenses renewed by the China State Administration for Radio, Film and TV. No explanation was given for the non-renewal. (Variety Asia Online, 1/29/07)
Shanda Interactive Entertainment, a provider of multiplayer, casual, and PC games and other media content in China, announced that it sold part of its stake in Chinese Web portal Sina to Citigroup for about $129.6 million. Shanda claims over 460 million registered accounts for games it operates in China. (Digital Media Wire, 2/8/07)
Baidu, the Chinese Internet search engine, issued 1Q forecast that fell short of expectations, feeding fears that its market is cooling. While the company has cemented its position as the top search engine in China, even in the face of major efforts to break into this market by Google and Yahoo, Baidu is having trouble maintaining its rapid expansion of its advertising base. (Wall Street Journal, 2/16/07)
Results from 2006 show that ad revenue in China is continuing to rise at astronomical rates as the country's advertising market reached $50 billion, up 22% from 2005. Magazines (27%) and TV (26%) experienced dramatic growth, while newspapers saw relatively modest growth (8%). The top categories were pharmaceuticals, cosmetics, toiletries and retail services with Oil of Olay remaining the #1 advertiser for the 4th year in a row. (Variety Asia Online, 2/20/07)
A recent survey of Chinese internet users revealed that 70% are under the age of 30, compared to roughly 70% that are over the age of 30 in the US. The number one priority for users of the internet in China was enterainment, while in the US, it was information. Further details of the survey showed that Chinese youth prefer instant messages to email messages, they play games, form communities, and even adopt virtual personas, or avatars, which can even trade virtually currency. In fact, in January, China's Central Bank even went so far as to issue a warning about a virtual currency called "Q-coins" from Chinese internet giant Tencent. (New York Times, 2/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
India
Tata Group won the bidding for British steelmaker Corus Group in an $11.3 billion deal that was the largest foreign acquisition to date by an Indian company. (Wall Street Journal, 1/28/07)
Bharti Airtel, India’s largest cell phone operator, said its profit more than doubled in the last quarter, as India’s red-hot telecommunications industry showed no signs of slowing down. The company added more than 5 million subscribers in the final 3 months of 2006 alone and raised its customer base to 33.7 million. (Wall Street Journal, 2/12/07)
India’s Hindalco Industries has agreed to pay $3.43 billion for Novelis, a Canadian maker of rolled aluminum used in products such as beer cans and cars, in the 2nd largest foreign acquisition by an Indian company ever, while further underscoring the drive of Indian companies to expand overseas by targeting struggling manufacturers and niche players in Western markets. (Wall Street Journal, 2/12/07)
Konakuppakattil Gopinathan Balakrishnan, a former "untouchable," according to the Hindu caste system, was appointed Chief Justice of India, in an event many have called "one of the most significant things to happen in the history of the nation of India." (Foster Network, 2/28/07)
Sony Entertainment TV plans to invest $71 million for a 26% stake in Neo Sports, a division of Nimbus Communications, the Indian company that owns the worldwide rights to all Indian international cricket matches across terrestrial, satellite, radio and broadband platforms until 2010. (VarietyAsiaOnline.com, 2/28/07)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Japan
Dentsu, Japan's biggest ad agency, reported a 7% rise in operating profit from a year earlier due to events such as the Asian Games, the World Cup and the Volleyball World Cup. (Wall Street Journal, 2/20/07)
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Korea
The Korean Film Council (KOFIC) is planning to open an office in Los Angeles, CA as part of a string of measures to support cultural exchanges and boost the profile of Korean cinema in the US. (Variety Asia Online, 2/2/07)
Korean investment in overseas property skyrocketed to $775.1 million in 2006, up from only $22.7 million in 2005 as the government openly urges the purchase of foreign property assets while at the same time tightening restrictions on the market at home. The US has drawn the most attention due to its large expatriate Korean population and sizeable number of Korean university students and has seen purchases rise to $129.2 million, up from $3.3 million. (Wall Street Journal, 2/11/07)
Baseball
The New York Yankees and the Chinese Baseball Association (CBA) announced a landmark agreement that for the first time formalized a strategic alliance between an MLB club and the CBA. Under the agreement, the Yankees will provide the CBA with guidance in training baseball players, which will include sending staff (coaches, player development, scouting and training personnel) to China to assist the CBA, while allowing the CBA to send staff to the Yankees' facilities in the United States in furtherance of those goals. (Yahoo! Sports, 1/30/07)
The New York Yankees have been awarded the 2008 Major League Baseball All-Star Game and will host the Midsummer Classic at Yankee Stadium on July 15, 2008, during the final year that the ballpark will be open. (MLB Press Release, 1/31/07)
Fenway Sports Group (FSG), a subsidiary of New England Sports Ventures, which owns the Boston Red Sox, added a top NASCAR team, Roush Racing, to its portfolio, in a deal that marks the first time that an ownership group of one of the four major North American Leagues has crossed over into the world of NASCAR. Under the deal, Red Sox owner John Henry and FSG acquired a 50% stake in the racing team, which will be known as the Roush Fenway Racing team, and FSG will support the team’s marketing and sales activities. (Yahoo! Sports, 2/2/07)
Boston.com entered into a content-sharing agreement with Go-RedSox.com, a Japanese- language baseball site with excerpts from MLB coverage translated into Japanese for readers worldwide. (Sports Business Journal, 2/5/07)
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Basketball
The National Basketball Association (NBA) and Inner Mongolia Mengniu Dairy Industry Group announced a new marketing partnership, where Mengniu will be the “Official Dairy Product of the NBA in China,” and will launch a series of social programs targeting over 500 elementary schools across China that will combine nutrition and sports to promote a healthy lifestyle for children. (NBA Press Release, 1/21/07)
China’s junior national boys’ basketball team traveled to the Spalding-sponsored United States Basketball Academy Institute near Eugene, Oregon and now is being featured on a Chinese reality TV show called “China Hoops-American Dream.” The three-episode series follows more than 40 top Chinese basketball players during their experience in the US. (Sports Business Journal, 1/28/07)
The NBA hired Goldman Sachs to advise on the league's China business, which is estimated to be worth over $1billion, and may include Goldman taking an equity stake in the league's China ventures. (Sports Business Journal, 2/18/07)
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Golf
Puma signed Japanese golfer Hideto Tanihara to an endorsement agreement and will supply the golfer with golf footwear and apparel in 2007. Tanihara has won four tour titles in Japan and was second on the Japan money list in 2006. (Apparel Wire, 1/28/07)
LPGA rookie Song-Hee Kim has secured a $1million, 2-year sponsorship deal with Fila Korea in the largest endorsement deal for a rookie Korean golfer since Se Ri Pak signed with CJ Group in 1998. (Golf World, 2/1/07)
Representatives from the golf division of Octagon have made visits to La Costa and Trump National with sights set on helping to create an early 2008 LPGA West Coast Swing that would fill in gaps between the two season opening tournaments in Hawaii and a late March event in Phoenix. (Golf Week, 2/3/07)
The LPGA Foundation has expanded its board for the first time in its 16-year history from 4 to 10 members with the addition of Betsy King (US Solheim Cup team captain); James Eden (president, Eden & Associates); Karen Furtado (vice president, CGI); Mareb Hoke (president, Mareb Foundation); Lewis C. Horne, Jr. (partner, Troutman Sanders); and Kathryn H. Milthrope (managing director of community and government affairs, International Speedway Corporation). (Golf Week, 2/3/07)
The China Golf Association and the Royal & Ancient Golf Club announced a deal to provide expert rules instructions, structured learning materials, and a system to accredit national and international referees. (GolfWorld.com, 2/23/07)
The China Golf Association and TaylorMade-Adidas Golf announced a deal where the equipment manufacturer will offer clubs and apparel to China's national teams and provide a "major financial investment" in youth group programs. (GolfWorld.com, 2/23/07)
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Other Sports
ESPN announced that has signed a multiyear deal with Verizon Wireless to host its Mobile ESPN service. Previously, ESPN invested over $150 million to develop the wireless service on its own, but decided to shut down in September 2006 due to lack of subscribers. (Digital Media Wire, 2/8/07)
Chinese PC maker Lenovo is continuing to expand its sponsorship portfolio with a recent agreement to pay about $190 million over the next five years to Williams F1 Racing. Activation of the sponsorship will include print advertising and use of F1-themed mobile marketing in areas such as airports with a high density of business travelers.
(Sports Business Journal, 2/11/07)
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China
Chinese Web portal Sohu.com reported that Q4 earnings fell by 32% due to higher costs associated with Chinese government regulations on registration and billing, despite an increase of 23% in ad sales and an overall 16% increase in revenue. (Wall Street Journal, 1/21/07)
McDonald’s announced they would open more than 50 drive-through outlets in China this year in conjunction with gas retailer Sinopec. (Wall Street Journal, 1/24/07)
The number of internet users in China jumped 23% last year to over 137 million people, covering 10.5% of the country’s population. China is the world’s second-largest Internet market after the US. (Wall Street Journal, 1/25/07)
In preparation for the 2008 Summer Olympics, Beijing city officials announced they will step up efforts to fine spitters as much as 50 yuan ($6.45) when they are caught doing the act in public. At the same time, municipal authorities also announced “Queuing Day,” which on the 11th of each month, city residents will be encouraged to stand in line at subway stops, post offices, and various other places in an effort to encourage citizens to behave better as the Olympic Games near. The 11th was chosen because the two “1’s” look like they are standing neatly in line. (Wall Street Journal, 1/28/07)
ESPN and Star Sports were the only channels among a group of foreign networks that did not have their broadcast licenses renewed by the China State Administration for Radio, Film and TV. No explanation was given for the non-renewal. (Variety Asia Online, 1/29/07)
Shanda Interactive Entertainment, a provider of multiplayer, casual, and PC games and other media content in China, announced that it sold part of its stake in Chinese Web portal Sina to Citigroup for about $129.6 million. Shanda claims over 460 million registered accounts for games it operates in China. (Digital Media Wire, 2/8/07)
Baidu, the Chinese Internet search engine, issued 1Q forecast that fell short of expectations, feeding fears that its market is cooling. While the company has cemented its position as the top search engine in China, even in the face of major efforts to break into this market by Google and Yahoo, Baidu is having trouble maintaining its rapid expansion of its advertising base. (Wall Street Journal, 2/16/07)
Results from 2006 show that ad revenue in China is continuing to rise at astronomical rates as the country's advertising market reached $50 billion, up 22% from 2005. Magazines (27%) and TV (26%) experienced dramatic growth, while newspapers saw relatively modest growth (8%). The top categories were pharmaceuticals, cosmetics, toiletries and retail services with Oil of Olay remaining the #1 advertiser for the 4th year in a row. (Variety Asia Online, 2/20/07)
A recent survey of Chinese internet users revealed that 70% are under the age of 30, compared to roughly 70% that are over the age of 30 in the US. The number one priority for users of the internet in China was enterainment, while in the US, it was information. Further details of the survey showed that Chinese youth prefer instant messages to email messages, they play games, form communities, and even adopt virtual personas, or avatars, which can even trade virtually currency. In fact, in January, China's Central Bank even went so far as to issue a warning about a virtual currency called "Q-coins" from Chinese internet giant Tencent. (New York Times, 2/28/07)
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India
Tata Group won the bidding for British steelmaker Corus Group in an $11.3 billion deal that was the largest foreign acquisition to date by an Indian company. (Wall Street Journal, 1/28/07)
Bharti Airtel, India’s largest cell phone operator, said its profit more than doubled in the last quarter, as India’s red-hot telecommunications industry showed no signs of slowing down. The company added more than 5 million subscribers in the final 3 months of 2006 alone and raised its customer base to 33.7 million. (Wall Street Journal, 2/12/07)
India’s Hindalco Industries has agreed to pay $3.43 billion for Novelis, a Canadian maker of rolled aluminum used in products such as beer cans and cars, in the 2nd largest foreign acquisition by an Indian company ever, while further underscoring the drive of Indian companies to expand overseas by targeting struggling manufacturers and niche players in Western markets. (Wall Street Journal, 2/12/07)
Konakuppakattil Gopinathan Balakrishnan, a former "untouchable," according to the Hindu caste system, was appointed Chief Justice of India, in an event many have called "one of the most significant things to happen in the history of the nation of India." (Foster Network, 2/28/07)
Sony Entertainment TV plans to invest $71 million for a 26% stake in Neo Sports, a division of Nimbus Communications, the Indian company that owns the worldwide rights to all Indian international cricket matches across terrestrial, satellite, radio and broadband platforms until 2010. (VarietyAsiaOnline.com, 2/28/07)
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Japan
Dentsu, Japan's biggest ad agency, reported a 7% rise in operating profit from a year earlier due to events such as the Asian Games, the World Cup and the Volleyball World Cup. (Wall Street Journal, 2/20/07)
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Korea
The Korean Film Council (KOFIC) is planning to open an office in Los Angeles, CA as part of a string of measures to support cultural exchanges and boost the profile of Korean cinema in the US. (Variety Asia Online, 2/2/07)
Korean investment in overseas property skyrocketed to $775.1 million in 2006, up from only $22.7 million in 2005 as the government openly urges the purchase of foreign property assets while at the same time tightening restrictions on the market at home. The US has drawn the most attention due to its large expatriate Korean population and sizeable number of Korean university students and has seen purchases rise to $129.2 million, up from $3.3 million. (Wall Street Journal, 2/11/07)
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