21 Oct 2015 07:00
21 October 2015
Merlin Entertainments and China Media Capital to set up a joint venture to develop a LEGOLAND Park in Shanghai area and other attractions in China
Highlights
- Merlin Entertainments ('Merlin') and China Media Capital ('CMC') announce the formation of a partnership to explore opportunities to develop visitor attractions throughout China
- As part of the agreement Merlin and CMC plan to develop a LEGOLAND® Park in Shanghai area as well as additional Midway attractions across China; including existing and new brands
- Agreement will be announced in the presence of China's President Xi and the Duke and Duchess of Cambridge during the President's State Visit to the UK
Merlin, a global leader in branded, location based family entertainment, and China Media Capital ('CMC'), a most prestigious name in China's media and entertainment investment and operation, today announce that they are forming a joint venture to create world-class visitor attractions in China and to build on and expand Merlin's existing location-based entertainment expertise and brands.
The partnership will be proudly announced today in the presence of China's President Xi Jinping and the Duke and Duchess of Cambridge, at a high-profile creative event at Lancaster House hosted by UK Trade & Investment (UKTI) as part of the President's State Visit. The event will feature different industries and will be where world-leading companies announce new collaborations in film, TV, entertainment and low-carbon technology in the presence of UK and Chinese dignitaries.
As part of the joint venture, Merlin and CMC plan to develop a LEGOLAND Park in the Shanghai area and target the roll out of various Midway brands throughout China. The new Midway opportunities to be explored by the joint venture will include both the adaption and localisation of existing and proven Merlin brands, such as 'The Dungeons' and selected 'LEGOLAND Discovery Centers' for the Chinese market as well as the development of new Midway brands and concepts including 'DreamWorks Tours - Kung Fu Panda Adventures' and others.
At present Merlin has five attractions in China (Madame Tussauds in Shanghai, Hong Kong, Beijing and Wuhan, and Chang Feng Ocean World aquarium in Shanghai) and has announced plans for three further attractions scheduled to open in the next 18 months - LEGOLAND Discovery Center Shanghai, and a Madame Tussauds and SEA LIFE aquarium in Chongqing.
Nick Varney, Chief Executive of Merlin Entertainments, said: "We are delighted to announce that we are forming a joint venture with CMC and are honoured to be able to make an announcement at such an important event to showcase British creativity and celebrate China and UK collaboration. China is a key growth market for the Group and we see this partnership as providing a significant opportunity to accelerate our plans. We're also very excited to be working with CMC on the development and roll out of new brands. By working together in partnership we will be able to combine our expertise in operating world-class attractions with CMC's insight and expertise in the Chinese market."
CMC is a leading innovator in China's location based entertainment market and creator of China's iconic urban entertainment and recreational complex - DreamCenter in Shanghai. CMC also owns many prominent media and entertainment companies and product brands.
Ruigang Li, Chairman of CMC, said: "It's a great honour to be supported by top leaders of both nations in forging this strategic partnership with Merlin. CMC has a highly diversified portfolio of entertainment content and platform. Through investing and operating across the whole spectrum of the media and entertainment sector, CMC has accumulated unique experience in aligning international know-how with local market needs. Through this partnership with Merlin, a global operator, we will be committed to creating a premium experience as well as establishing a working system in China for the development and operation of location based entertainment attractions that meet international standards."
ENDS
Merlin Entertainments plc
+44 (0) 1202 440 082
Alistair Windybank, Investor Relations
Simon Whittington, Investor Relations
Brunswick Group
+44 (0) 20 7404 5959
Imran Jina
China Media Capital
Jiaming Wu
jwu@cmccap.com
About Merlin Entertainments plc
Merlin Entertainments plc is a leading name in location based, family entertainment. Europe's Number 1 and the world's second-largest visitor attraction operator, Merlin now operates over 100 attractions, 12 hotels and 4 holiday villages in 23 countries and across 4 continents. The company aims to deliver memorable experiences to its more than 60 million visitors worldwide, through its iconic global and local brands, and the commitment and passion of its circa 26,000 employees.
About China Media Capital ('CMC')
Founded and chaired by Ruigang Li, CMC is one of the most prestigious names in media and entertainment investment and operation in China and global markets. CMC has created and grown many leading companies in media and entertainment, Internet and mobile, and life style sectors; including film, television, music, sports, location based entertainment, financial media, financial data service, smart TV, virtual reality technology and content, online-video, advertising, social network, game, online-education, e-commerce, O2O etc.