Alpha Spacecom Teams Up
Alpha Spacecom [OTC BB: ASPC] has signed an agreement with China Film Group (CFG) to create a satellite digital cinema and home distribution platform for major Western and domestic motion pictures. The motion pictures, as well as other content, will be delivered through digital projection cinemas and a satellite pay-per-view system over the course of the project. Under the agreement, Alpha Spacecom and CFG will form a joint venture, with 51 percent owned by CFG and 49 percent by Alpha Spacecom. The joint venture would reconstruct and upgrade movie theater complexes to digital projection format and implement a home pay-per-view system, both of which will receive digitized content via satellite transmission. The joint venture will invest in the reconstruction and conversion of two hundred locations to the digital cinema format, and will establish a satellite hub to provide satellite transmission services for the distribution of digital entertainment. Content distribution and digital cinema box office receipts will be the primary revenue drivers of the joint venture.