TVB appoints Li Ruigang as Vice Chairman
(17 October 2016) Television Broadcasts Limited (TVB) is pleased to announce the appointment of Mr Li Ruigang as Vice Chairman of the Board and a non-executive director of the company effective today.
“We are delighted that Mr Li has accepted the appointments. He is widely respected in business circles in China and abroad. He is an international businessman with a unique blend of operational skills and experiences spanning across television, film, sports, location-based entertainment, internet-based over-the-top (OTT) TV, IPTV and smart TV, e-commerce, millennial media platforms and communities, and has an excellent track record in media and entertainment investments,” said Dr Charles Chan, Chairman of TVB.
“Mr Li will not participate in the daily operation of TVB. As Vice Chairman of the Board, he will focus primarily on the company’s strategic planning and development of long-term business goals. He will contribute to the long-term growth of TVB with his unrivaled connections both within China and internationally. I look forward to working closely with him.”
To re-position the company in the face of rapid technological changes, TVB successfully rolled out a new OTT platform myTV SUPER in April this year. Leveraging on TVB’s voluminous archives of popular dramas and other programmes, an OTT electronic shopping mall named TVB Anywhere was launched in September targeting at overseas viewers in Canada, UK, Australia and beyond.
To ride the tide of phenomenal growth in the global film market, particularly in China, TVB is partnering with CMC Holdings, founded by Mr Li, to invest in Flagship Entertainment Group and Shaw Brothers Holdings to develop a slate of Chinese and English-language films. Through these two joint ventures, TVB plans to mobilise its production and talent resources to elevate its movie business to the next level.
“TVB will in future focus on developing its core businesses in Hong Kong and to capture the vast growth opportunities in the Mainland as well as other potential markets. Mr Li will be a great addition to the Board and the ideal adviser in transformation of businesses and creating value at this challenging time. His foresight and worldwide business connections will be invaluable to us,” Dr Chan said.
Mr Li Ruigang said, “It is a pleasure to work with a group of talented people at TVB who over the years have laid a solid foundation for the business today. I believe the future bodes positively for the company with strategic opportunities. I look forward to working with my fellow Board members to broaden the reach and impact of the great work that is being done.”
Mr Li is the founding Chairman of CMC Holdings and CMC Capital Partners (together with their affiliates collectively known as CMC) which have emerged as prominent industry players dedicated to media and entertainment investments and operation in China and overseas. In addition to its leading position on China’s media and entertainment landscape, CMC is also becoming an increasingly active player in the global markets. The latest and most prominent moves in this respect include the movie-making ventures with IMAX Corp., and Warner Brothers Entertainment Inc.; the joint venture with Merlin Entertainment to build Legoland Park China; the investment into City Football Group which owns Manchester City Football Club; and the acquisition of an equity stake in the Hollywood production company Imagine Entertainment which has produced TV series “24” and films “Apollo 13” and “A Beautiful Mind”.
Mr Li is the Chairman of Oriental DreamWorks, a joint venture between CMC and world-renowned animation studio DreamWorks Animation. CMC, by joining hands with global partners, is building a US$3 billion integrated entertainment and lifestyle landmark in Shanghai, called the Shanghai DreamCenter. Apart from featuring world-class entertainment, international performing arts, premium restaurants and creative media, the Shanghai DreamCenter will be one of the largest animation production bases in China.
In his role as the Chairman of Star TV China, which was acquired by CMC from News Corporation, Mr Li helped grow Canxing Production, a subsidiary of Star TV China, into one of the largest and most successful TV programme production houses in China with highly popular series such as “The Voice of China” and “Sing! China”. Mr Li also serves as a non-executive director of WPP, a world leader in marketing communications, and is a member of the Board of Directors of Special Olympics.
Mr Li served as Chairman and CEO of Shanghai Media Group (SMG). During his 10 years at the helm of SMG, he transformed it from a Shanghai-based provincial broadcaster into China’s leading media conglomerate with the most diversified media assets.