Cosmedia jumps into TV bonanza

Cosmedia has committed to bankroll more than 1,500 hours of programming each year through domestic production houses, as well as entering into "a long-term collaboration" with Chinese Government-owned media operation Great Wall Arts and Cultural Center to secure a distribution network. Cosmedia, which will act as Great Wall's exclusive agency for ad sales, hopes the move will enhance its ability to sell ads in the mainland, where the Hong Kong company has been operating for over 10 years. "We will provide steady quality programming, Great Wall will provide a steady pipeline and this will lead to steady ratings," explained company president Antony Chan. The new rules, part of the Cepa arrangements facilitating trade between Hong Kong and the mainland, reclassify co-productions between SAR companies and mainland operations as domestic content, freeing these programmes from restrictions on foreign imports. A recent visit to Hong Kong by top officials from China's regulatory authority Sarft to field questions on regulations concerning foreign investment in China's television and film industry, believed to be the first time Sarft has attended such a meeting outside the mainland, was seen by many as a sign that Beijing is keen to encourage foreign participation. Nevertheless Sarft is expected to keep tight reins on the pace of reform. "They don't want to give the impression that this is liberalisation," stressed Simon Twiston Davies, CEO of pay-TV body Casbaa, host of the event. "This is commercialisation."