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TAICCA and CATCHPLAY Announce Joint Investment in SCREENWORKS ASIA to Build Taiwan's Content Powerhouse – Canada NewsWire

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CATCHPLAY is the leading distributor for international movies in Taiwan, with movies such as La La Land, Green Book and Parasite in its recent line-up. Its streaming service, CATCHPLAY+, is one of the few digital content services that have successfully expanded to international markets, having over 6 million users to date across operations in Taiwan, Singapore, and Indonesia. Employing more than a decade of experience in the content industry, CATCHPLAY has had a remarkable slate of film investments, including the financing of Hollywood films The Revenant, Assassin’s Creed and director Martin Scorsese’s Silence in addition to 20 Once Again, a co-production with Korea’s CJ Entertainment. In 2019, CATCHPLAY, in partnership with Warner Media’s HBO Asia, took on the distribution of its first Taiwanese original drama series, The World Between Us, and saw the TV series become the most successful Mandarin-speaking series of the year.

TAICCA Chairperson Hsiao-Ching TING states, “With a proprietary distribution network and experience investing in international productions, CATCHPLAY has been a long-term distributor of international films and television programs. Investing in the development of Taiwanese films, TAICCA hopes to leverage CATCHPLAY’s international distribution channels and reverse long-standing trends by exporting Taiwan-produced films overseas, resonating with the agency’s “internationalization” and “brand creation” strategies TAICCA looks forward to working with CATCHPLAY to establish a foundation for original content from Taiwan to integrate with the global market, empowering Taiwan to become an influential contributor of original content around the globe.

“We used to play by the rules of international content industry rules to bring good international content to the Taiwanese audience. Now, it’s time to leverage our experience from the international market to bring Taiwan’s original works to the world,” said CATCHPLAY CEO Daphne YANG, “It’s an honor that TAICCA favors this concept and our team’s capability. We hope that this partnership can help the Taiwanese film and television industry build a new platform in line with international standards.”

The main focus of SCREENWORKS ASIA will be producing and distributing premium Taiwanese original entertainment content targeting international audiences. SCREENWORKS ASIA selects various topics of international interest for development, focusing mainly on movies, mini-series, and factual entertainment for theatrical releases, TV, or streaming services with creating diversified, cross-industry global IP as its long-term goal.

The first SCREENWORKS ASIA project announced is the sequel to one of the most successful Mandarin-speaking drama series of 2019, The Making of An Ordinary Woman II. The Making of An Ordinary Woman and The World Between US were named the top two Mandarin-speaking shows of 2019, rated 8.6 and 9.2 respectively on IMDb, the leading international content rating service, and reached many hundreds of millions of viewers in Asia and all over the world. Both shows were from Taiwan and introduced to streamers on CATCHPLAY+. Five more projects have also been announced by SCREENWORKS ASIA with principal photography for two of them kicking off this summer.

Since its establishment last year, TAICCA has endeavored to work on IPs with outstanding potential to facilitate their development. Among them, the martial art short film, The Method of Breathing by cutting-edge director Yi LIU, the winning project selected at the end of last year by the Taipei Golden Horse Film Project Promotion, has seen its development accelerated through a TAICCA-established platform and participated in the IP Showcase at this year’s European Film Market in Berlin. SCREENWORKS ASIA will also develop a TV drama and movie of the same name, creating a stage for the content industry and creators to leap into the international market.

TAICCA utilizes the Development Fund to invest in diversified industries and fill in industry gaps, systematically constructing an ecosystem for films with Taiwan-related content. TAICCA will continue to collaborate with the government and private sector to welcome additional co-investors for the promotion and development of Taiwan’s cultural content industry.

SOURCE Taiwan Creative Content Agency

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Oracle TikTok Investment Wins Trump’s Blessing: Deal at a Glance – Yahoo Canada Finance

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Oracle TikTok Investment Wins Trump’s Blessing: Deal at a Glance

(Bloomberg) — Oracle Corp.’s agreement to take a stake in TikTok has won the long-awaited blessing of U.S. President Donald Trump.

The proposal, which would give Oracle and other investors minority ownership of a new company called TikTok Global, still needs approval from regulators in China, where TikTok’s parent ByteDance Ltd. is based.

Trump’s praise for the agreement suggests that weeks-long deliberations over the fate of a popular music and video-sharing app are nearing completion. ByteDance began holding discussions with investors in its U.S. operations after the Trump administration threatened to shutter the business, saying that it poses a threat to national security.

While some of the terms remain undetermined, here’s what’s known about the deal, based on public statements and people with knowledge of the matter:

What We Know

Who’s in and who’s outOracle plans to take a 12.5% stake in a round of financing that would precede an IPOTikTok also said that together, Oracle and Walmart Inc. could end up with as much as 20%The new company, called TikTok Global, will seek a U.S. IPO and raise a pre-IPO round of financingExisting Bytedance investors that could participate in the pre-IPO round include Sequoia Capital, General Altantic and Coatue CapitalA host of other companies made proposals or considered bidding. Microsoft Corp. was rebuffed because it wanted to control all of TikTok in the U.S., a condition that didn’t sit well with BeijingWhat the deal looks likeOracle will be TikTok’s “trusted technology provider,” meaning Oracle will house the entity’s data in its U.S. servers — a boon to a cloud computing business that has lagged behind those of Amazon.com Inc., Alphabet Inc. and Microsoft. It will also get access to monitor TikTok’s source code and algorithmsWalmart Chief Executive Officer Doug McMillon will sit on Tiktok Global’s board and is discussing a commercial partnership with TikTokTikTok Global will likely be headquartered in Texas and will hire at least 25,000 people, Trump said, without mentioning a timeline for those hiresByteDance would retain a majority stake in TikTok’s assets and control the closely guarded algorithm that determines what clips users seeThe new company will hold an initial public offering in about a yearHow the parties are addressing security concernsOracle will review TikTok’s full source code and updates to make sure there are no back doors that could be used by ByteDance to gather data or spy on the app’s 100 million or so American usersOracle will be able to continue to review the technology as updates come in to make sure there are no new points of access to the dataTikTok was able to convince the U.S. government that TikTok Global would be controlled by American investors by counting the passive stakes of existing shareholders in TikTok’s Chinese parent, people familiar with the matter said. Although Bytedance will retain an 80% stake in the new company, because existing U.S. investors hold a 40% stake in ByteDance, the math works out to 53% ownership by U.S. companies and investorsWhether Trump will get a payoutTikTok Global will use proceeds of the IPO to create a $5 billion education fund“They’re going to be setting up a very large fund,” Trump said Saturday. “That’s their contribution that I’ve been asking for”

What We Don’t Know

What China thinksThe Chinese government will also have to approve ByteDance’s plans under new restrictions Beijing imposed on the export of artificial intelligence technologies, Bloomberg News reported earlierAs of earlier this week, ByteDance was growing increasingly confident that the proposal would pass muster with Chinese regulators, people familiar with the matter told BloombergEarly reaction from Chinese state media appeared positive. “This scheme is still unfair, but it avoids the worst result that TikTok is shut down or sold to a US company completely,” wrote Hu Xijin, the influential editor in chief of China’s state-owned Global Times

Fate of the Commerce Department’s ban

The Commerce Department said Saturday it will push a ban back by one week that would bar TikTok from the Apple Inc. and Android app stores, extending the Sept. 20 deadline set by President Trump

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Oracle TikTok Investment Wins Trump's Blessing: Deal at a Glance – BNN

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(Bloomberg) — Oracle Corp.’s agreement to take a stake in TikTok has won the long-awaited blessing of U.S. President Donald Trump.

The proposal, which would give Oracle and other investors minority ownership of a new company called TikTok Global, still needs approval from regulators in China, where TikTok’s parent ByteDance Ltd. is based.

Trump’s praise for the agreement suggests that weeks-long deliberations over the fate of a popular music and video-sharing app are nearing completion. ByteDance began holding discussions with investors in its U.S. operations after the Trump administration threatened to shutter the business, saying that it poses a threat to national security.

While some of the terms remain undetermined, here’s what’s known about the deal, based on public statements and people with knowledge of the matter:

What We Know

  • Who’s in and who’s out
    • Oracle plans to take a 12.5% stake in a round of financing that would precede an IPO
    • TikTok also said that together, Oracle and Walmart Inc. could end up with as much as 20%
    • The new company, called TikTok Global, will seek a U.S. IPO and raise a pre-IPO round of financing
    • Existing Bytedance investors that could participate in the pre-IPO round include Sequoia Capital, General Altantic and Coatue Capital
    • A host of other companies made proposals or considered bidding. Microsoft Corp. was rebuffed because it wanted to control all of TikTok in the U.S., a condition that didn’t sit well with Beijing
  • What the deal looks like
    • Oracle will be TikTok’s “trusted technology provider,” meaning Oracle will house the entity’s data in its U.S. servers — a boon to a cloud computing business that has lagged behind those of Amazon.com Inc., Alphabet Inc. and Microsoft. It will also get access to monitor TikTok’s source code and algorithms
    • Walmart Chief Executive Officer Doug McMillon will sit on Tiktok Global’s board and is discussing a commercial partnership with TikTok
    • TikTok Global will likely be headquartered in Texas and will hire at least 25,000 people, Trump said, without mentioning a timeline for those hires
    • ByteDance would retain a majority stake in TikTok’s assets and control the closely guarded algorithm that determines what clips users see
    • The new company will hold an initial public offering in about a year
  • How the parties are addressing security concerns
    • Oracle will review TikTok’s full source code and updates to make sure there are no back doors that could be used by ByteDance to gather data or spy on the app’s 100 million or so American users
    • Oracle will be able to continue to review the technology as updates come in to make sure there are no new points of access to the data
    • TikTok was able to convince the U.S. government that TikTok Global would be controlled by American investors by counting the passive stakes of existing shareholders in TikTok’s Chinese parent, people familiar with the matter said. Although Bytedance will retain an 80% stake in the new company, because existing U.S. investors hold a 40% stake in ByteDance, the math works out to 53% ownership by U.S. companies and investors
  • Whether Trump will get a payout
    • TikTok Global will use proceeds of the IPO to create a $5 billion education fund
    • “They’re going to be setting up a very large fund,” Trump said Saturday. “That’s their contribution that I’ve been asking for”

What We Don’t Know

©2020 Bloomberg L.P.

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UAE Makes Appointments to Investment Body, UN Aviation Group – BNN

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(Bloomberg) — The United Arab Emirates appointed new heads to several federal committees, as well as a permanent representative to the International Civil Aviation Organization.

The UAE’s prime minister, Mohammed Bin Rashid Al Maktoum, named Thani Ahmed Al Zeyoudi as head of the federal committee for direct investment, according to the official news agency WAM. Saeed Mohammed Al Suwaidi was named as permanent representative for the UAE at the United Nations’ civil aviation body known as ICAO, WAM reported.

©2020 Bloomberg L.P.

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